Illinois Municipal Retirement Fund Sells 4,664 Shares of ABM Industries Incorporated (NYSE:ABM)

Illinois Municipal Retirement Fund trimmed its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 12.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,513 shares of the business services provider's stock after selling 4,664 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of ABM Industries worth $1,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake 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 buying an additional 7,050 shares during the period. Pzena Investment Management LLC lifted its stake in shares of ABM Industries by 67.0% during the 3rd quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider's stock valued at $36,640,000 after buying an additional 278,575 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ABM Industries by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,006 shares of the business services provider's stock worth $35,930,000 after buying an additional 12,179 shares during the period. Principal Financial Group Inc. grew its stake in ABM Industries by 4.3% in the 4th quarter. Principal Financial Group Inc. now owns 341,616 shares of the business services provider's stock valued at $17,484,000 after buying an additional 13,985 shares in the last quarter. Finally, Easterly Investment Partners LLC raised its holdings in ABM Industries by 5.3% during the 3rd quarter. Easterly Investment Partners LLC now owns 242,140 shares of the business services provider's stock valued at $12,775,000 after acquiring an additional 12,243 shares during the period. Institutional investors own 91.62% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Separately, UBS Group lifted their price target on 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 Price Performance

NYSE:ABM traded down $0.38 during trading hours on Tuesday, hitting $53.07. The stock had a trading volume of 142,897 shares, compared to its average volume of 471,624. The company has a 50 day simple moving average of $52.54 and a two-hundred day simple moving average of $53.61. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 41.79, a P/E/G ratio of 2.75 and a beta of 1.16. 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 Incorporated has a one year low of $40.50 and a one year high of $59.78.

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 (EPS) for the quarter, beating 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 analyst estimates of $2.08 billion. During the same quarter last year, the company earned $1.01 earnings per share. The firm's quarterly revenue was up 4.0% on a year-over-year basis. Research analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

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

Insider Activity at ABM Industries

In related news, CAO Dean A. Chin sold 4,281 shares of the 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 transaction, the chief accounting officer now owns 18,681 shares of the company's stock, valued at $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $528,400.00. Following the sale, the chief operating officer now owns 87,808 shares in the company, valued at $4,639,774.72. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

ABM Industries Company 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.