California Public Employees Retirement System cut its holdings in shares of ABM Industries, Inc. (NYSE:ABM) by 6.2% during the first quarter, Holdings Channel reports. The fund owned 105,020 shares of the business services provider’s stock after selling 6,924 shares during the period. California Public Employees Retirement System’s holdings in ABM Industries were worth $3,817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABM. Victory Capital Management Inc. acquired a new position in ABM Industries during the fourth quarter worth about $53,401,000. Oregon Public Employees Retirement Fund acquired a new position in ABM Industries during the fourth quarter worth about $25,000. Norges Bank acquired a new position in ABM Industries during the fourth quarter worth about $13,541,000. Boston Partners boosted its position in ABM Industries by 60.0% during the fourth quarter. Boston Partners now owns 1,083,605 shares of the business services provider’s stock worth $34,795,000 after acquiring an additional 406,334 shares during the last quarter. Finally, FMR LLC boosted its position in ABM Industries by 5.3% during the fourth quarter. FMR LLC now owns 7,221,374 shares of the business services provider’s stock worth $231,878,000 after acquiring an additional 360,214 shares during the last quarter.

ABM opened at $36.33 on Tuesday. The stock has a market cap of $2.40 billion, a P/E ratio of 18.78 and a beta of 0.59. ABM Industries, Inc. has a twelve month low of $25.64 and a twelve month high of $38.60. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. ABM Industries had a net margin of 1.28% and a return on equity of 8.87%. ABM Industries’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. Equities analysts predict that ABM Industries, Inc. will post 1.95 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Thursday, April 4th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.72 annualized dividend and a yield of 1.98%. ABM Industries’s payout ratio is 38.10%.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of ABM Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Maxim Group set a $45.00 price target on shares of ABM Industries and gave the stock a “buy” rating in a research report on Friday, April 12th. KeyCorp assumed coverage on shares of ABM Industries in a research report on Friday, April 5th. They set a “sector weight” rating and a $36.83 price target on the stock. Finally, Robert W. Baird set a $37.00 price target on shares of ABM Industries and gave the stock a “hold” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.46.

In other ABM Industries news, COO Scott J. Giacobbe sold 7,143 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $36.90, for a total value of $263,576.70. Following the transaction, the chief operating officer now directly owns 76,545 shares in the company, valued at approximately $2,824,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dean A. Chin sold 8,758 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $37.53, for a total transaction of $328,687.74. Following the completion of the transaction, the chief accounting officer now owns 28,644 shares in the company, valued at $1,075,009.32. The disclosure for this sale can be found here. Insiders sold a total of 26,872 shares of company stock worth $1,003,677 over the last quarter. 0.94% of the stock is currently owned by company insiders.

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ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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