HighTower Advisors LLC lowered its stake in ABM Industries Incorporated (NYSE:ABM) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,824 shares of the business services provider’s stock after selling 2,135 shares during the quarter. HighTower Advisors LLC’s holdings in ABM Industries were worth $1,072,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. lifted its stake in shares of ABM Industries by 15.6% in the 1st quarter. Macquarie Group Ltd. now owns 747,218 shares of the business services provider’s stock valued at $32,579,000 after purchasing an additional 100,979 shares during the period. Legal & General Group Plc lifted its stake in shares of ABM Industries by 0.5% in the 1st quarter. Legal & General Group Plc now owns 133,692 shares of the business services provider’s stock valued at $5,828,000 after purchasing an additional 729 shares during the period. Principal Financial Group Inc. lifted its stake in shares of ABM Industries by 5.8% in the 2nd quarter. Principal Financial Group Inc. now owns 471,406 shares of the business services provider’s stock valued at $19,573,000 after purchasing an additional 25,860 shares during the period. Systematic Financial Management LP lifted its stake in shares of ABM Industries by 1,079.2% in the 2nd quarter. Systematic Financial Management LP now owns 455,594 shares of the business services provider’s stock valued at $18,916,000 after purchasing an additional 416,959 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of ABM Industries by 6.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the business services provider’s stock valued at $167,000 after purchasing an additional 236 shares during the period. 78.23% of the stock is currently owned by institutional investors.

In other ABM Industries news, SVP Dean A. Chin sold 880 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $42.90, for a total transaction of $37,752.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James P. Mcclure sold 1,963 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $44.44, for a total transaction of $87,235.72. The disclosure for this sale can be found here. Insiders have sold 15,069 shares of company stock worth $618,769 in the last ninety days. Insiders own 1.30% of the company’s stock.

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Shares of ABM Industries Incorporated (ABM) opened at 43.07 on Thursday. The firm has a market cap of $2.81 billion, a P/E ratio of 168.24 and a beta of 0.80. The company’s 50-day moving average price is $41.84 and its 200 day moving average price is $42.57. ABM Industries Incorporated has a 52 week low of $37.12 and a 52 week high of $45.12.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, September 6th. The business services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, equities analysts anticipate that ABM Industries Incorporated will post $1.88 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Thursday, October 5th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, October 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.58%. ABM Industries’s dividend payout ratio (DPR) is currently 251.86%.

A number of research analysts have recently weighed in on the company. KeyCorp raised ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a research note on Monday, September 11th. BidaskClub raised ABM Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Robert W. Baird set a $47.00 price target on ABM Industries and gave the company a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Sidoti raised ABM Industries from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $55.00 in a research note on Thursday, July 13th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.20.

ABM Industries Profile

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

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

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