ABM Industries Incorporated (NYSE:ABM) Stock Holdings Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,736 shares of the business services provider’s stock after buying an additional 910 shares during the period. Janney Montgomery Scott LLC’s holdings in ABM Industries were worth $1,456,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Brighton Jones LLC bought a new stake in shares of ABM Industries during the 1st quarter valued at about $330,000. Palouse Capital Management Inc. grew its position in shares of ABM Industries by 17.4% during the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider’s stock valued at $143,000 after buying an additional 446 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of ABM Industries by 12.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider’s stock valued at $289,000 after buying an additional 693 shares during the last quarter. apricus wealth LLC bought a new stake in shares of ABM Industries during the 1st quarter valued at about $217,000. Finally, GAMMA Investing LLC boosted its stake in ABM Industries by 4,082.5% during the 1st quarter. GAMMA Investing LLC now owns 70,140 shares of the business services provider’s stock valued at $3,322,000 after purchasing an additional 68,463 shares during the period. Institutional investors own 91.62% of the company’s stock.

Insider Transactions at ABM Industries

In related news, Director Thomas M. Gartland sold 3,711 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.52, for a total transaction of $168,924.72. Following the completion of the sale, the director now directly owns 30,958 shares of the company’s stock, valued at $1,409,208.16. This represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott B. Salmirs sold 800 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $52.09, for a total transaction of $41,672.00. Following the sale, the chief executive officer now directly owns 418,856 shares of the company’s stock, valued at approximately $21,818,209.04. This represents a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,085 shares of company stock valued at $2,902,227. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

ABM has been the subject of a number of analyst reports. Wall Street Zen lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 31st. Baird R W raised shares of ABM Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. Robert W. Baird raised shares of ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 target price for the company in a research note on Monday, June 9th. Finally, UBS Group raised shares of ABM Industries from a “neutral” rating to a “buy” rating and boosted their target price for the company from $50.00 to $54.00 in a research note on Monday, June 9th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

ABM Industries Trading Up 1.4%

Shares of NYSE:ABM opened at $46.43 on Friday. The company has a 50 day moving average of $48.97 and a 200-day moving average of $50.09. The firm has a market cap of $2.89 billion, a P/E ratio of 37.45, a P/E/G ratio of 2.36 and a beta of 0.83. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.78. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.07 billion. ABM Industries had a return on equity of 12.54% and a net margin of 0.93%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. As a group, analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, July 3rd. ABM Industries’s dividend payout ratio is currently 85.48%.

ABM Industries Company Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.