Kingsview Wealth Management LLC Purchases 11,726 Shares of ABM Industries Incorporated (NYSE:ABM)

Kingsview Wealth Management LLC lifted its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,419 shares of the business services provider's stock after purchasing an additional 11,726 shares during the quarter. Kingsview Wealth Management LLC owned 0.08% of ABM Industries worth $2,478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABM. Capital Performance Advisors LLP bought a new position in shares of ABM Industries during the third quarter worth $30,000. Copeland Capital Management LLC bought a new position in shares of ABM Industries during the third quarter worth $37,000. Adirondack Trust Co. boosted its position in shares of ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock worth $46,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of ABM Industries by 58.8% during the third 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. Finally, Quarry LP lifted its position in ABM Industries by 49.7% in the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider's stock valued at $115,000 after acquiring an additional 721 shares in the last quarter. 91.62% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Dean A. Chin sold 4,281 shares of the business's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total transaction of $224,153.16. Following the transaction, the chief accounting officer now directly owns 18,681 shares in the company, valued at $978,137.16. The trade was a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Rene Jacobsen sold 10,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the sale, the chief operating officer now owns 87,808 shares of the company's stock, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, UBS Group boosted their price objective on shares of ABM Industries from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, December 19th.

ABM Industries Stock Up 0.1 %

ABM traded up $0.03 during trading on Thursday, hitting $53.17. The company had a trading volume of 217,972 shares, compared to its average volume of 299,844. The company has a market capitalization of $3.31 billion, a PE ratio of 41.86, a PEG ratio of 2.79 and a beta of 1.16. ABM Industries Incorporated has a one year low of $39.72 and a one year high of $59.78. The firm's 50-day moving average price is $52.93 and its 200 day moving average price is $53.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.08 billion. During the same period in the previous year, the firm posted $1.01 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts expect that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd were issued a $0.265 dividend. This is a boost from ABM Industries's previous quarterly dividend of $0.23. The ex-dividend date was Thursday, January 2nd. This represents a $1.06 annualized dividend and a dividend yield of 1.99%. ABM Industries's dividend payout ratio (DPR) is presently 83.47%.

ABM Industries Profile

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.