Alliancebernstein L.P. boosted its position in shares of ABM Industries, Inc. (NYSE:ABM) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,526,647 shares of the business services provider’s stock after buying an additional 5,856 shares during the quarter. Alliancebernstein L.P. owned 2.33% of ABM Industries worth $57,585,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in ABM Industries by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 465,438 shares of the business services provider’s stock worth $17,556,000 after buying an additional 1,558 shares during the period. Burney Co. boosted its stake in ABM Industries by 25.5% during the fourth quarter. Burney Co. now owns 8,629 shares of the business services provider’s stock worth $325,000 after buying an additional 1,754 shares during the period. Independent Advisor Alliance boosted its stake in ABM Industries by 14.4% during the third quarter. Independent Advisor Alliance now owns 14,697 shares of the business services provider’s stock worth $629,000 after buying an additional 1,852 shares during the period. New York State Common Retirement Fund boosted its stake in ABM Industries by 1.6% during the third quarter. New York State Common Retirement Fund now owns 123,585 shares of the business services provider’s stock worth $5,155,000 after buying an additional 1,949 shares during the period. Finally, Baker Ellis Asset Management LLC boosted its stake in ABM Industries by 13.6% during the fourth quarter. Baker Ellis Asset Management LLC now owns 16,875 shares of the business services provider’s stock worth $637,000 after buying an additional 2,025 shares during the period. 98.51% of the stock is owned by institutional investors.
Several research analysts have commented on the stock. Zacks Investment Research raised shares of ABM Industries from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Tuesday, February 13th. Robert W. Baird set a $40.00 price objective on shares of ABM Industries and gave the stock a “buy” rating in a research note on Friday, March 2nd. Finally, TheStreet lowered shares of ABM Industries from a “b” rating to a “c+” rating in a research note on Friday, December 29th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $45.75.
Shares of ABM Industries, Inc. (NYSE ABM) opened at $38.02 on Tuesday. The stock has a market cap of $2,490.00, a price-to-earnings ratio of 31.68 and a beta of 0.78. ABM Industries, Inc. has a one year low of $33.29 and a one year high of $45.12. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.74 and a current ratio of 1.74.
ABM Industries (NYSE:ABM) last issued its earnings results on Tuesday, March 6th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. ABM Industries had a net margin of 1.55% and a return on equity of 8.33%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. sell-side analysts predict that ABM Industries, Inc. will post 1.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 7th. Stockholders of record on Thursday, April 5th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Wednesday, April 4th. ABM Industries’s dividend payout ratio is currently 58.33%.
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ABM Industries Profile
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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