Beacon Investment Advisors LLC Lowers Position in ABM Industries Incorporated (NYSE:ABM)

Beacon Investment Advisors LLC lessened its position in ABM Industries Incorporated (NYSE:ABMFree Report) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,303 shares of the business services provider’s stock after selling 906 shares during the quarter. Beacon Investment Advisors LLC’s holdings in ABM Industries were worth $462,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of ABM Industries by 136.5% in the 4th quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock valued at $3,529,000 after purchasing an additional 45,442 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ABM Industries by 15.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,216 shares of the business services provider’s stock valued at $637,000 after purchasing an additional 1,851 shares during the period. Versor Investments LP purchased a new position in shares of ABM Industries in the 4th quarter valued at approximately $550,000. Norges Bank purchased a new position in shares of ABM Industries in the 4th quarter valued at approximately $31,310,000. Finally, Olympiad Research LP raised its stake in ABM Industries by 37.0% during the fourth quarter. Olympiad Research LP now owns 8,693 shares of the business services provider’s stock valued at $390,000 after buying an additional 2,349 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Up 5.2 %

NYSE:ABM traded up $2.54 during trading hours on Friday, reaching $50.94. 1,062,435 shares of the company traded hands, compared to its average volume of 391,670. The business’s 50-day moving average price is $45.51 and its two-hundred day moving average price is $43.60. The stock has a market capitalization of $3.22 billion, a P/E ratio of 13.35 and a beta of 1.16. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $53.05. The company has a current ratio of 1.44, a quick ratio of 1.48 and a debt-to-equity ratio of 0.67.

ABM Industries (NYSE:ABMGet Free Report) last posted its earnings results on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. Analysts predict that ABM Industries Incorporated will post 3.38 earnings per share for the current year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, July 5th. ABM Industries’s payout ratio is 23.56%.

Insiders Place Their Bets

In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Rene Jacobsen sold 5,563 shares of ABM Industries stock in a transaction on Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now owns 111,677 shares of the company’s stock, valued at $4,868,000.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the sale, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,643 shares of company stock valued at $1,055,490. Corporate insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group lifted their price objective on ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.00.

Get Our Latest Analysis on ABM Industries

About ABM Industries

(Free Report)

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.

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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