Sunriver Management LLC lifted its holdings in shares of ABM Industries, Inc. (NYSE:ABM) by 66.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 734,210 shares of the business services provider’s stock after acquiring an additional 294,010 shares during the period. ABM Industries makes up about 5.8% of Sunriver Management LLC’s investment portfolio, making the stock its 8th biggest position. Sunriver Management LLC owned 1.12% of ABM Industries worth $27,694,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in ABM Industries by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 465,438 shares of the business services provider’s stock valued at $17,556,000 after purchasing an additional 1,558 shares during the last quarter. Burney Co. grew its holdings in ABM Industries by 25.5% during the fourth quarter. Burney Co. now owns 8,629 shares of the business services provider’s stock valued at $325,000 after purchasing an additional 1,754 shares during the period. Independent Advisor Alliance lifted its stake 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 buying an additional 1,852 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of 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 worth $5,155,000 after purchasing an additional 1,949 shares in the last quarter. Finally, Baker Ellis Asset Management LLC lifted its position in shares of ABM Industries by 13.6% in the fourth quarter. Baker Ellis Asset Management LLC now owns 16,875 shares of the business services provider’s stock worth $637,000 after purchasing an additional 2,025 shares in the last quarter. 98.51% of the stock is owned by institutional investors.
ABM Industries, Inc. (NYSE ABM) traded down $0.43 during midday trading on Wednesday, hitting $37.12. The stock had a trading volume of 798,972 shares, compared to its average volume of 558,499. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.83. The company has a market cap of $2,492.61, a PE ratio of 23.33 and a beta of 0.78. ABM Industries, Inc. has a 12 month low of $33.29 and a 12 month high of $45.12.
ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Tuesday, March 6th. The business services provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. ABM Industries had a return on equity of 8.33% and a net margin of 1.55%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. equities research analysts forecast that ABM Industries, Inc. will post 1.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 7th. Investors of record on Thursday, April 5th will be given a $0.175 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $0.70 dividend on an annualized basis and a yield of 1.89%. ABM Industries’s payout ratio is 46.98%.
In other ABM Industries news, Director Linda Chavez sold 2,103 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $38.89, for a total value of $81,785.67. Following the completion of the sale, the director now owns 16,557 shares in the company, valued at $643,901.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.
Several research firms have commented on ABM. Robert W. Baird set a $40.00 price objective on shares of ABM Industries and gave the company a “buy” rating in a report on Friday, March 2nd. Zacks Investment Research upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday, February 13th. Finally, TheStreet cut shares of ABM Industries from a “b” rating to a “c+” rating in a research report on Friday, December 29th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $45.75.
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ABM Industries Company 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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