Citigroup Inc. increased its holdings in ABM Industries Incorporated (NYSE:ABM – Get Rating) by 23.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,428 shares of the business services provider’s stock after purchasing an additional 7,841 shares during the period. Citigroup Inc. owned approximately 0.06% of ABM Industries worth $1,840,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in ABM Industries by 1.8% during the third quarter. Amalgamated Bank now owns 30,629 shares of the business services provider’s stock valued at $1,171,000 after acquiring an additional 542 shares during the period. Wedge Capital Management L L P NC bought a new stake in ABM Industries during the fourth quarter valued at about $7,018,000. Tudor Investment Corp Et Al boosted its holdings in ABM Industries by 67.5% during the third quarter. Tudor Investment Corp Et Al now owns 116,925 shares of the business services provider’s stock valued at $4,470,000 after acquiring an additional 47,132 shares during the period. Dimensional Fund Advisors LP boosted its holdings in ABM Industries by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 4,345,239 shares of the business services provider’s stock valued at $166,121,000 after acquiring an additional 89,431 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of ABM Industries in the third quarter valued at about $200,000. 92.15% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Robert W. Baird cut shares of ABM Industries from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $52.00 to $51.00 in a research note on Thursday, March 9th. StockNews.com assumed coverage on shares of ABM Industries in a research note on Thursday, May 18th. They issued a “hold” rating for the company.
ABM Industries Stock Performance
NYSE:ABM opened at $43.08 on Friday. ABM Industries Incorporated has a 12-month low of $37.68 and a 12-month high of $50.47. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $2.85 billion, a PE ratio of 14.96 and a beta of 1.09. The firm has a 50-day moving average price of $43.26 and a 200 day moving average price of $45.06.
ABM Industries (NYSE:ABM – Get Rating) last posted its quarterly earnings results on Wednesday, March 8th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. ABM Industries had a net margin of 2.45% and a return on equity of 13.85%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts anticipate that ABM Industries Incorporated will post 3.5 earnings per share for the current fiscal year.
ABM Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Thursday, April 6th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Wednesday, April 5th. ABM Industries’s payout ratio is 30.56%.
Insider Transactions at ABM Industries
In other news, CEO Scott B. Salmirs sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $45.07, for a total transaction of $135,210.00. Following the completion of the sale, the chief executive officer now owns 371,743 shares of the company’s stock, valued at $16,754,457.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.85% of the company’s stock.
About ABM Industries
ABM Industries, Inc engages in the provision of facility, infrastructure, and mobility solutions. It operates through the following segments: Business and Industry, Manufacturing and Distribution, Education, Aviation, and Technical Solutions. The Business and Industry segment encompasses janitorial, facilities engineering, and parking services for commercial real estate properties, sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities.
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