5,588 Shares in ABM Industries Incorporated (NYSE:ABM) Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,588 shares of the business services provider's stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABM. Savant Capital LLC raised its position in shares of ABM Industries by 1.7% during the 4th quarter. Savant Capital LLC now owns 11,707 shares of the business services provider's stock valued at $599,000 after acquiring an additional 191 shares during the last quarter. Adirondack Trust Co. grew its stake 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 during the period. Naples Global Advisors LLC increased its holdings in ABM Industries by 2.3% in the fourth quarter. Naples Global Advisors LLC now owns 11,038 shares of the business services provider's stock valued at $565,000 after purchasing an additional 253 shares during the last quarter. CIBC Asset Management Inc lifted its stake in ABM Industries by 4.8% in the fourth quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider's stock valued at $321,000 after buying an additional 289 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings in ABM Industries by 2.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider's stock worth $900,000 after buying an additional 378 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

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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 stock was sold at an average price of $52.36, for a total value 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. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Rene Jacobsen sold 10,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the transaction, the chief operating officer now directly owns 87,808 shares of the company's stock, valued at $4,639,774.72. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

ABM Industries Trading Down 0.7 %

ABM Industries stock traded down $0.38 during mid-day trading on Tuesday, hitting $53.07. 136,654 shares of the company's stock were exchanged, compared to its average volume of 471,597. The company's 50 day simple moving average is $52.54 and its 200-day simple moving average is $53.61. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.30 billion, a P/E ratio of 41.78, a PEG ratio of 2.75 and a beta of 1.16. ABM Industries Incorporated has a fifty-two week low of $40.50 and a fifty-two week high of $59.78.

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 (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 2.00%. This is a positive change from ABM Industries's previous quarterly dividend of $0.23. ABM Industries's payout ratio is presently 83.46%.

Analyst Ratings Changes

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

About ABM Industries

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.