Personal Capital Advisors Corp increased its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,250 shares of the business services provider’s stock after buying an additional 208 shares during the period. Personal Capital Advisors Corp owned 0.11% of ABM Industries worth $2,460,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock valued at $105,000 after buying an additional 946 shares in the last quarter. Elkfork Partners LLC boosted its position in shares of ABM Industries by 2.5% in the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock valued at $120,000 after buying an additional 66 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of ABM Industries by 2.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock valued at $153,000 after buying an additional 84 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of ABM Industries by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the business services provider’s stock valued at $167,000 after buying an additional 236 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. bought a new position in shares of ABM Industries during the second quarter valued at $162,000. Institutional investors own 92.41% of the company’s stock.
Shares of ABM Industries Incorporated (NYSE:ABM) opened at 44.04 on Thursday. The stock has a 50 day moving average price of $43.27 and a 200-day moving average price of $42.46. ABM Industries Incorporated has a 52-week low of $37.47 and a 52-week high of $45.12. The stock has a market capitalization of $2.46 billion, a PE ratio of 195.73 and a beta of 0.80.
ABM Industries (NYSE:ABM) last issued its earnings results on Wednesday, June 7th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. On average, equities research analysts anticipate that ABM Industries Incorporated will post $1.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Thursday, July 6th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.54%. The ex-dividend date was Monday, July 3rd. ABM Industries’s payout ratio is currently 283.33%.
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ABM has been the subject of a number of recent analyst reports. BidaskClub cut ABM Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Sidoti upgraded ABM Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $55.00 in a research report on Thursday, July 13th. Finally, Robert W. Baird restated an “outperform” rating and issued a $47.00 price objective (down from $49.00) on shares of ABM Industries in a research report on Thursday, July 13th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $48.25.
In related news, SVP Dean A. Chin sold 632 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $44.95, for a total value of $28,408.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rene Jacobsen sold 950 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $43.95, for a total value of $41,752.50. Following the completion of the transaction, the insider now directly owns 16,594 shares of the company’s stock, valued at $729,306.30. The disclosure for this sale can be found here. Insiders sold a total of 8,925 shares of company stock valued at $385,575 over the last ninety days. 1.30% of the stock is currently owned by company insiders.
About ABM Industries
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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