BlackRock Advisors LLC reduced its stake in shares of ABM Industries Inc. (NYSE:ABM) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,720 shares of the company’s stock after selling 747 shares during the period. BlackRock Advisors LLC owned about 0.36% of ABM Industries worth $7,286,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its stake in ABM Industries by 0.8% in the first quarter. BlackRock Fund Advisors now owns 3,543,162 shares of the company’s stock valued at $114,480,000 after buying an additional 29,711 shares in the last quarter. Prudential Financial Inc. boosted its stake in ABM Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 134,362 shares of the company’s stock valued at $4,341,000 after buying an additional 3,600 shares in the last quarter. BlackRock Inc. boosted its stake in ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock valued at $170,000 after buying an additional 1,591 shares in the last quarter. SECOR Capital Advisors LP boosted its stake in ABM Industries by 188.0% in the second quarter. SECOR Capital Advisors LP now owns 111,733 shares of the company’s stock valued at $4,076,000 after buying an additional 72,934 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in ABM Industries by 5.9% in the first quarter. BlackRock Group LTD now owns 111,122 shares of the company’s stock valued at $3,591,000 after buying an additional 6,235 shares in the last quarter. Hedge funds and other institutional investors own 90.56% of the company’s stock.
Shares of ABM Industries Inc. (NYSE:ABM) opened at 38.07 on Thursday. ABM Industries Inc. has a 52-week low of $26.50 and a 52-week high of $40.47. The firm has a market cap of $2.12 billion, a P/E ratio of 24.62 and a beta of 0.75. The firm’s 50-day moving average is $38.98 and its 200-day moving average is $35.93.
ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.14. The business earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. Analysts anticipate that ABM Industries Inc. will post $1.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Thursday, October 6th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $0.66 dividend on an annualized basis and a yield of 1.73%. ABM Industries’s payout ratio is 42.58%.
A number of research analysts have recently commented on the stock. Imperial Capital increased their target price on shares of ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, June 23rd. Zacks Investment Research raised ABM Industries from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Friday, September 9th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of ABM Industries in a research note on Wednesday, August 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. ABM Industries has a consensus rating of “Buy” and a consensus price target of C$32.05.
In related news, insider Scott J. Giacobbe sold 1,300 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of C$39.02, for a total value of C$50,726.00. Following the transaction, the insider now directly owns 34,183 shares in the company, valued at C$1,333,820.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sarah H. Mcconnell sold 8,322 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of C$39.83, for a total value of C$331,465.26. Following the completion of the transaction, the executive vice president now owns 66,429 shares in the company, valued at C$2,645,867.07. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
ABM Industries Company Profile
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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