ABM Industries Inc. (ABM) Stake Increased by First Trust Advisors LP
First Trust Advisors LP boosted its position in ABM Industries Inc. (NYSE:ABM) by 102.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,721 shares of the company’s stock after buying an additional 14,541 shares during the period. First Trust Advisors LP owned 0.05% of ABM Industries worth $1,048,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Hillcrest Asset Management LLC acquired a new stake in shares of ABM Industries during the first quarter valued at approximately $10,624,000. Aberdeen Asset Management PLC UK boosted its stake in shares of ABM Industries by 85.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 467,016 shares of the company’s stock valued at $17,036,000 after buying an additional 214,644 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of ABM Industries during the second quarter valued at approximately $3,041,000. Chicago Equity Partners LLC boosted its stake in shares of ABM Industries by 471.8% in the second quarter. Chicago Equity Partners LLC now owns 80,165 shares of the company’s stock valued at $2,924,000 after buying an additional 66,145 shares in the last quarter. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new stake in shares of ABM Industries during the second quarter valued at approximately $1,548,000. Institutional investors and hedge funds own 90.56% of the company’s stock.
ABM Industries Inc. (NYSE:ABM) traded up 0.701% on Wednesday, reaching $39.505. 97,723 shares of the company traded hands. The stock has a market capitalization of $2.20 billion, a PE ratio of 25.553 and a beta of 0.75. ABM Industries Inc. has a one year low of $26.50 and a one year high of $40.47. The firm has a 50 day moving average of $38.87 and a 200-day moving average of $35.69.
ABM Industries (NYSE:ABM) last posted its earnings results on Wednesday, September 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The firm earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. ABM Industries had a net margin of 1.73% and a return on equity of 10.15%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, analysts anticipate that ABM Industries Inc. will post $1.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be issued a $0.165 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.68%. ABM Industries’s dividend payout ratio (DPR) is currently 42.58%.
ABM has been the subject of several analyst reports. Imperial Capital lifted their price target on shares of ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a research report on Thursday, June 23rd. Zacks Investment Research cut shares of ABM Industries from a “buy” rating to a “sell” rating in a research report on Tuesday, August 9th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $40.00 price target on shares of ABM Industries in a research report on Wednesday, August 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of C$32.05.
In other news, insider Scott J. Giacobbe sold 1,300 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of C$39.02, for a total value of C$50,726.00. Following the completion of the transaction, the insider now owns 34,183 shares of the company’s stock, valued at C$1,333,820.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott J. Giacobbe sold 13,700 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of C$39.33, for a total value of C$538,821.00. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately C$1,312,953.39. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
ABM Industries Company Profile
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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