Allianz Asset Management GmbH decreased its holdings in shares of ABM Industries Incorporated (NYSE: ABM – Get Rating) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,241 shares of the business services provider’s stock after selling 889 shares during the period. Allianz Asset Management GmbH’s holdings in ABM Industries were worth $ 704,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of ABM. Vulcan Value Partners LLC raised its position in shares of ABM Industries by 19.3% during the 3rd quarter. Vulcan Value Partners LLC now owns 1,699,988 shares of the business services provider’s stock valued at $ 76,516,000 after acquiring an additional 275,424 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of ABM Industries by 19.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,604,308 shares of the business services provider’s stock valued at $ 65,536,000 after acquiring an additional 261,413 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ABM Industries by 18.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,552,321 shares of the business services provider’s stock valued at $ 63,412,000 after buying an additional 247,272 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of ABM Industries by 19.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,232,029 shares of the business services provider’s stock valued at $ 50,329,000 after buying an additional 202,584 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of ABM Industries by 75.9% in the 2nd quarter. Morgan Stanley now owns 380,239 shares of the business services provider’s stock valued at $ 16,863,000 after buying an additional 164,051 shares in the last quarter. Institutional investors own 94.65% of the company stock.
A number of research firms recently commented on ABM. Zacks Investment Research cut shares of ABM Industries from a “buy” rating to a “hold” rating and set a $ 48.00 price objective for the company. in a research report on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ABM Industries from $ 62.00 to $ 65.00 in a research report on Wednesday, April 20th. Finally, StockNews.com upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Friday, May 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $ 56.00.
Shares of NYSE ABM opened at $ 49.00 on Friday. The firm has a market cap of $ 3.28 billion, a PE ratio of 26.20 and a beta of 1.10. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59. ABM Industries Incorporated has a 1-year low of $ 38.44 and a 1-year high of $ 54.00. The company has a fifty day moving average price of $ 47.39 and a 200 day moving average price of $ 45.01.
ABM Industries (NYSE: ABM – Get Rating) last announced its earnings results on Tuesday, March 8th. The business services provider reported $ 0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $ 0.79 by $ 0.15. ABM Industries had a net margin of 1.91% and a return on equity of 14.86%. The firm had revenue of $ 1.94 billion during the quarter, compared to analyst estimates of $ 1.83 billion. During the same period in the prior year, the business earned $ 1.01 EPS. The company revenue for the quarter was up 29.7% compared to the same quarter last year. Equities research analysts forecast that ABM Industries Incorporated will post 3.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Thursday, April 7th were paid a dividend of $ 0.195 per share. The ex-dividend date was Wednesday, April 6th. This represents a $ 0.78 dividend on an annualized basis and a dividend yield of 1.59%. ABM Industries’s dividend payout ratio is 41.71%.
In other news, EVP Andrea R. Newborn sold 8,619 shares of the company stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $ 49.35, for a total value of $ 425,347.65. Following the sale, the executive vice president now directly owns 40,976 shares of the company stock, valued at approximately $ 2,022,165.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Raul Javier Valentin sold 1,109 shares of the company stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $ 45.64, for a total transaction of $ 50,614.76. Following the completion of the sale, the executive vice president now directly owns 14,337 shares in the company, valued at $ 654,340.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,140 shares of company stock valued at $ 1,141,717. Company insiders own 0.54% of the company stock.
ABM Industries Company Profile: (Get Rating)
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.
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