TIAA CREF Investment Management LLC lowered its position in shares of ABM Industries Incorporated (NYSE:ABM) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,536 shares of the business services provider’s stock after selling 9,784 shares during the period. TIAA CREF Investment Management LLC’s holdings in ABM Industries were worth $6,694,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of ABM Industries during the fourth quarter valued at about $26,617,000. FMR LLC bought a new position in ABM Industries during the fourth quarter worth $19,696,000. Teachers Advisors LLC raised its position in ABM Industries by 332.4% in the first quarter. Teachers Advisors LLC now owns 407,119 shares of the business services provider’s stock worth $17,750,000 after buying an additional 312,972 shares during the period. Aberdeen Asset Management PLC UK raised its position in ABM Industries by 17.1% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,098,983 shares of the business services provider’s stock worth $47,915,000 after buying an additional 160,140 shares during the period. Finally, Macquarie Group Ltd. raised its position in ABM Industries by 23.8% in the fourth quarter. Macquarie Group Ltd. now owns 646,239 shares of the business services provider’s stock worth $26,392,000 after buying an additional 124,143 shares during the period. 93.28% of the stock is owned by hedge funds and other institutional investors.
ABM Industries Incorporated (NYSE ABM) traded down 0.43% on Tuesday, reaching $44.51. The company had a trading volume of 272,562 shares. The company’s 50-day moving average price is $42.72 and its 200 day moving average price is $42.22. The firm has a market capitalization of $2.48 billion, a P/E ratio of 197.82 and a beta of 0.80. ABM Industries Incorporated has a 1-year low of $36.97 and a 1-year high of $45.12.
ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, June 7th. The business services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. ABM Industries had a net margin of 0.25% and a return on equity of 11.44%. ABM Industries’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. On average, equities analysts forecast that ABM Industries Incorporated will post $1.95 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Thursday, July 6th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Monday, July 3rd. ABM Industries’s payout ratio is 283.33%.
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ABM has been the topic of several recent analyst reports. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Robert W. Baird set a $50.00 target price on ABM Industries and gave the stock a “buy” rating in a report on Wednesday, May 31st. Sidoti raised ABM Industries from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $55.00 in a report on Thursday, July 13th. Finally, BidaskClub raised ABM Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $48.25.
In other news, insider Rene Jacobsen sold 950 shares of ABM Industries stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $43.10, for a total value of $40,945.00. Following the sale, the insider now owns 16,594 shares of the company’s stock, valued at $715,201.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James P. Mcclure sold 1,963 shares of ABM Industries stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $44.44, for a total transaction of $87,235.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,713 shares of company stock worth $459,809. Insiders own 1.30% of the company’s stock.
About ABM Industries
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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