Prudential Financial Inc. Buys 2,440 Shares of ABM Industries Inc. (ABM)
Prudential Financial Inc. increased its stake in shares of ABM Industries Inc. (NYSE:ABM) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 136,802 shares of the company’s stock after buying an additional 2,440 shares during the period. Prudential Financial Inc. owned about 0.24% of ABM Industries worth $4,991,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Aperio Group LLC boosted its stake in shares of ABM Industries by 31.9% in the first quarter. Aperio Group LLC now owns 26,663 shares of the company’s stock valued at $861,000 after buying an additional 6,455 shares during the period. BlackRock Inc. raised its stake in shares of ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock valued at $170,000 after buying an additional 1,591 shares in the last quarter. BlackRock Group LTD raised its stake in shares of ABM Industries by 5.9% in the first quarter. BlackRock Group LTD now owns 111,122 shares of the company’s stock valued at $3,591,000 after buying an additional 6,235 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of ABM Industries by 0.8% in the first quarter. BlackRock Fund Advisors now owns 3,543,162 shares of the company’s stock valued at $114,480,000 after buying an additional 29,711 shares in the last quarter. Finally, State Street Corp raised its stake in shares of ABM Industries by 1.9% in the first quarter. State Street Corp now owns 1,137,054 shares of the company’s stock valued at $36,737,000 after buying an additional 20,920 shares in the last quarter. 90.56% of the stock is currently owned by institutional investors and hedge funds.
ABM Industries Inc. (NYSE:ABM) opened at 38.08 on Friday. ABM Industries Inc. has a 52 week low of $26.50 and a 52 week high of $40.47. The company has a 50-day moving average price of $38.98 and a 200-day moving average price of $35.95. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 24.63 and a beta of 0.75.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 earnings per share. Equities research analysts anticipate that ABM Industries Inc. will post $1.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Thursday, October 6th will be paid a $0.165 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.73%. ABM Industries’s dividend payout ratio (DPR) is 42.58%.
Several analysts have recently commented on the company. Robert W. Baird reiterated an “outperform” rating and set a $44.00 price objective on shares of ABM Industries in a report on Saturday, September 10th. Zacks Investment Research upgraded ABM Industries from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Friday, September 9th. Finally, Imperial Capital increased their price objective on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, June 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. ABM Industries currently has a consensus rating of “Buy” and an average target price of C$32.05.
In other ABM Industries news, EVP Sarah H. Mcconnell sold 8,322 shares of the business’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of C$39.83, for a total value of C$331,465.26. Following the completion of the transaction, the executive vice president now owns 66,429 shares in the company, valued at C$2,645,867.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott J. Giacobbe sold 1,300 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of C$39.02, for a total transaction 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 approximately C$1,333,820.66. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
About ABM Industries
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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