Engineers Gate Manager LP decreased its holdings in shares of ABM Industries, Inc. (NYSE:ABM) by 79.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,118 shares of the business services provider’s stock after selling 153,396 shares during the period. Engineers Gate Manager LP owned 0.06% of ABM Industries worth $1,294,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of ABM Industries by 9.7% in the third quarter. Russell Investments Group Ltd. now owns 532,027 shares of the business services provider’s stock worth $17,158,000 after acquiring an additional 46,955 shares during the period. First Trust Advisors LP boosted its holdings in shares of ABM Industries by 6.3% in the third quarter. First Trust Advisors LP now owns 789,422 shares of the business services provider’s stock worth $25,459,000 after acquiring an additional 46,518 shares during the period. Aperio Group LLC boosted its holdings in shares of ABM Industries by 19.4% in the third quarter. Aperio Group LLC now owns 43,843 shares of the business services provider’s stock worth $1,414,000 after acquiring an additional 7,122 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of ABM Industries by 71.8% in the third quarter. Nisa Investment Advisors LLC now owns 6,870 shares of the business services provider’s stock worth $222,000 after acquiring an additional 2,871 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of ABM Industries by 1.6% in the third quarter. Deprince Race & Zollo Inc. now owns 1,346,317 shares of the business services provider’s stock worth $43,419,000 after acquiring an additional 20,717 shares during the period.
A number of equities analysts have recently commented on ABM shares. ValuEngine lowered ABM Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 18th. Zacks Investment Research raised ABM Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 7th. Robert W. Baird lowered ABM Industries from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $36.00 to $40.00 in a report on Thursday, August 23rd. They noted that the move was a valuation call. Finally, TheStreet raised ABM Industries from a “c+” rating to a “b-” rating in a report on Friday, September 14th.
In related news, insider Scott B. Salmirs sold 6,239 shares of ABM Industries stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $33.98, for a total transaction of $212,001.22. Following the completion of the sale, the insider now owns 120,693 shares of the company’s stock, valued at $4,101,148.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dean A. Chin sold 5,682 shares of ABM Industries stock in a transaction on Friday, September 7th. The shares were sold at an average price of $33.60, for a total value of $190,915.20. Following the sale, the senior vice president now directly owns 32,847 shares of the company’s stock, valued at approximately $1,103,659.20. The disclosure for this sale can be found here. Insiders have sold 13,939 shares of company stock valued at $464,243 in the last three months. 1.30% of the stock is owned by corporate insiders.
ABM Industries stock opened at $31.91 on Friday. ABM Industries, Inc. has a one year low of $28.17 and a one year high of $44.70. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $2.10 billion, a PE ratio of 18.23 and a beta of 0.71.
ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Thursday, September 6th. The business services provider reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.04. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.65 billion. ABM Industries had a return on equity of 7.75% and a net margin of 1.34%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. Analysts anticipate that ABM Industries, Inc. will post 1.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Thursday, October 4th were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.19%. The ex-dividend date was Wednesday, October 3rd. ABM Industries’s dividend payout ratio is 40.00%.
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ABM Industries Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.
Read More: Earnings Per Share (EPS)
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