Bank of New York Mellon Corp lifted its holdings in ABM Industries, Inc. (NYSE:ABM) by 2.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 999,366 shares of the business services provider’s stock after purchasing an additional 27,098 shares during the period. Bank of New York Mellon Corp owned about 1.53% of ABM Industries worth $37,696,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABM. Fusion Family Wealth LLC bought a new stake in ABM Industries during the 4th quarter worth approximately $158,000. Gofen & Glossberg LLC IL bought a new stake in ABM Industries during the 3rd quarter worth approximately $200,000. Centiva Capital LP bought a new stake in ABM Industries during the 4th quarter worth approximately $239,000. CIBC Asset Management Inc bought a new stake in ABM Industries during the 4th quarter worth approximately $265,000. Finally, Magnetar Financial LLC bought a new stake in ABM Industries during the 3rd quarter worth approximately $427,000. Institutional investors own 98.51% of the company’s stock.
A number of equities research analysts have commented on the stock. TheStreet cut shares of ABM Industries from a “b” rating to a “c+” rating in a research note on Friday, December 29th. Robert W. Baird restated an “outperform” rating and set a $40.00 target price (up previously from $39.00) on shares of ABM Industries in a research note on Thursday, March 8th. Finally, Zacks Investment Research upgraded shares of ABM Industries from a “strong sell” rating to a “hold” rating and set a $44.00 target price on the stock in a research note on Monday, January 22nd. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $45.75.
ABM Industries (NYSE:ABM) last released its earnings results on Tuesday, March 6th. The business services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. ABM Industries had a return on equity of 8.33% and a net margin of 1.55%. ABM Industries’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. equities analysts forecast that ABM Industries, Inc. will post 1.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 7th. Stockholders of record on Thursday, April 5th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, April 4th. ABM Industries’s payout ratio is currently 58.33%.
In other news, Director Linda Chavez sold 2,103 shares of ABM Industries stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $38.89, for a total transaction of $81,785.67. Following the sale, the director now owns 16,557 shares in the company, valued at $643,901.73. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.81% of the company’s stock.
ABM Industries Company 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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