Edgestream Partners L.P. Purchases 28,621 Shares of ABM Industries Incorporated (NYSE:ABM)

Edgestream Partners L.P. grew its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 78.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,212 shares of the business services provider's stock after buying an additional 28,621 shares during the period. Edgestream Partners L.P. owned approximately 0.10% of ABM Industries worth $3,338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in ABM Industries during the third quarter worth about $30,000. SBI Securities Co. Ltd. bought a new position in shares of ABM Industries during the fourth quarter worth approximately $33,000. Adirondack Trust Co. raised its position in shares of ABM Industries by 28.6% in the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock valued at $46,000 after buying an additional 200 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock valued at $46,000 after buying an additional 595 shares during the period. Finally, Quarry LP grew its position in ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider's stock worth $115,000 after buying an additional 721 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company's stock.

Analyst Upgrades and Downgrades

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

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Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the company's stock in a transaction that occurred on 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 directly owns 87,808 shares in the company, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $224,153.16. Following the transaction, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

ABM Industries Price Performance

ABM traded down $4.31 during trading on Wednesday, hitting $45.52. 1,677,544 shares of the stock traded hands, compared to its average volume of 474,384. The business has a 50 day moving average price of $52.66 and a 200 day moving average price of $53.50. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a twelve month low of $41.51 and a twelve month high of $59.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33.

ABM Industries (NYSE:ABM - Get Free Report) last issued its earnings results on Wednesday, March 12th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. Equities research analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.33%. ABM Industries's dividend payout ratio is currently 83.46%.

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.