Miracle Mile Advisors LLC bought a new position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,660 shares of the business services provider's stock, valued at approximately $392,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV grew its position in shares of ABM Industries by 2.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider's stock valued at $900,000 after purchasing an additional 378 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of ABM Industries by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 35,036 shares of the business services provider's stock worth $1,772,000 after acquiring an additional 539 shares during the period. Capital Performance Advisors LLP bought a new stake in ABM Industries in the 3rd quarter valued at $30,000. Kovitz Investment Group Partners LLC boosted its stake in ABM Industries by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,804 shares of the business services provider's stock worth $791,000 after purchasing an additional 588 shares during the period. Finally, GAMMA Investing LLC increased its holdings in ABM Industries by 58.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider's stock worth $84,000 after purchasing an additional 589 shares in the last quarter. 91.62% of the stock is owned by institutional investors.
ABM Industries Stock Down 0.4 %
ABM traded down $0.23 during trading on Friday, reaching $53.14. 204,935 shares of the stock were exchanged, compared to its average volume of 340,558. The stock's 50 day moving average price is $54.26 and its two-hundred day moving average price is $53.48. ABM Industries Incorporated has a twelve month low of $39.64 and a twelve month high of $59.78. The stock has a market cap of $3.31 billion, a P/E ratio of 41.84, a price-to-earnings-growth ratio of 2.63 and a beta of 1.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33.
ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. Equities analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.
ABM Industries Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.265 dividend. This is a boost from ABM Industries's previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, January 2nd. ABM Industries's dividend payout ratio is currently 83.47%.
Insider Transactions at ABM Industries
In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,681 shares of the company's stock, valued at $978,137.16. The trade was a 18.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.04% of the company's stock.
Analysts Set New Price Targets
Separately, UBS Group upped their price target on ABM Industries from $55.00 to $56.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th.
Check Out Our Latest Stock Report on ABM Industries
About ABM Industries
(
Free Report)
ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.
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