AlphaQuest LLC Has $367,000 Holdings in ABM Industries Incorporated (NYSE:ABM)

AlphaQuest LLC decreased its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 52.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,166 shares of the business services provider's stock after selling 8,038 shares during the quarter. AlphaQuest LLC's holdings in ABM Industries were worth $367,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of ABM Industries by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider's stock valued at $76,582,000 after purchasing an additional 7,050 shares during the period. Pzena Investment Management LLC lifted its position in ABM Industries by 67.0% during the third quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider's stock worth $36,640,000 after acquiring an additional 278,575 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ABM Industries by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 693,325 shares of the business services provider's stock worth $35,484,000 after acquiring an additional 12,319 shares during the period. Principal Financial Group Inc. grew its position in shares of ABM Industries by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 341,616 shares of the business services provider's stock valued at $17,484,000 after purchasing an additional 13,985 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in ABM Industries by 1.3% during the 4th quarter. Rhumbline Advisers now owns 198,756 shares of the business services provider's stock worth $10,172,000 after purchasing an additional 2,517 shares during the last quarter. Institutional investors and hedge funds own 91.62% of the company's stock.

ABM Industries Stock Performance

NYSE:ABM opened at $47.12 on Friday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a fifty-two week low of $41.51 and a fifty-two week high of $59.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a fifty day moving average price of $52.55 and a 200-day moving average price of $53.45.

Remove Ads

ABM Industries (NYSE:ABM - Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share 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 business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.08 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. ABM Industries's revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.25%. ABM Industries's payout ratio is 83.46%.

Insider Transactions at ABM Industries

In other news, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of the transaction, the chief operating officer now owns 87,808 shares of the company's stock, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares in the company, valued at $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, UBS Group lowered their price target on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday.

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.

Want to see what other hedge funds are holding ABM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ABM Industries Incorporated (NYSE:ABM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.