Texas Permanent School Fund decreased its position in ABM Industries, Inc. (NYSE:ABM) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,425 shares of the business services provider’s stock after selling 3,084 shares during the quarter. Texas Permanent School Fund owned 0.06% of ABM Industries worth $1,412,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky raised its position in ABM Industries by 4.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 19,900 shares of the business services provider’s stock valued at $826,000 after purchasing an additional 900 shares during the period. Strs Ohio raised its position in ABM Industries by 4.0% in the third quarter. Strs Ohio now owns 31,000 shares of the business services provider’s stock valued at $1,293,000 after purchasing an additional 1,200 shares during the period. Independent Advisor Alliance raised its position in ABM Industries by 14.4% in the third quarter. Independent Advisor Alliance now owns 14,697 shares of the business services provider’s stock valued at $629,000 after purchasing an additional 1,852 shares during the period. New York State Common Retirement Fund raised its position in ABM Industries by 1.6% in the third quarter. New York State Common Retirement Fund now owns 123,585 shares of the business services provider’s stock valued at $5,155,000 after purchasing an additional 1,949 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in ABM Industries by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 185,328 shares of the business services provider’s stock valued at $7,695,000 after purchasing an additional 2,255 shares during the period. 95.12% of the stock is currently owned by institutional investors.
Shares of ABM Industries, Inc. (NYSE ABM) opened at $34.88 on Friday. ABM Industries, Inc. has a 12-month low of $33.70 and a 12-month high of $45.12. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $2,286.77, a price-to-earnings ratio of 19.93 and a beta of 0.73.
ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, December 13th. The business services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.12). ABM Industries had a return on equity of 9.74% and a net margin of 0.07%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. research analysts forecast that ABM Industries, Inc. will post 2.1 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Thursday, January 4th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, January 3rd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from ABM Industries’s previous quarterly dividend of $0.17. ABM Industries’s dividend payout ratio is currently 1,000.14%.
A number of analysts have issued reports on the company. TheStreet lowered ABM Industries from a “b” rating to a “c+” rating in a research report on Friday, December 29th. Zacks Investment Research raised ABM Industries from a “strong sell” rating to a “hold” rating and set a $44.00 target price on the stock in a research report on Monday, January 22nd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. ABM Industries has a consensus rating of “Buy” and an average target price of $48.50.
In other news, Director Linda Chavez sold 2,103 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $38.89, for a total transaction of $81,785.67. Following the sale, the director now owns 16,557 shares of the company’s stock, valued at $643,901.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
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ABM Industries Profile
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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