Wealthfront Advisers LLC acquired a new stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 60,251 shares of the business services provider's stock, valued at approximately $3,084,000. Wealthfront Advisers LLC owned approximately 0.10% of ABM Industries at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in ABM Industries in the 4th quarter valued at $33,000. Adirondack Trust Co. grew its position in 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 buying an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its position in ABM Industries by 193.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after buying an additional 595 shares in the last quarter. 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. Finally, KBC Group NV raised its holdings in shares of ABM Industries by 60.9% in the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider's stock valued at $144,000 after acquiring an additional 1,067 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, UBS Group cut their price objective on ABM Industries from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday.
Read Our Latest Stock Analysis on ABM
Insider Buying and Selling at ABM Industries
In other news, CAO Dean A. Chin sold 4,281 shares of the firm's stock in a transaction dated 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 directly owns 18,681 shares of the company's stock, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Rene Jacobsen sold 10,000 shares of ABM Industries 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 completion of the transaction, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.
ABM Industries Price Performance
Shares of NYSE ABM traded up $1.02 during mid-day trading on Monday, reaching $47.80. 473,806 shares of the company were exchanged, compared to its average volume of 468,053. ABM Industries Incorporated has a 52 week low of $42.28 and a 52 week high of $59.78. The company's 50 day moving average price is $52.36 and its 200 day moving average price is $53.30. The stock has a market capitalization of $2.97 billion, a PE ratio of 37.63, a PEG ratio of 2.75 and a beta of 1.13. 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 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 firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.
ABM Industries Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries's dividend payout ratio is currently 83.46%.
About ABM Industries
(
Free Report)
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.
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