ABM Industries, Inc. (ABM) Holdings Increased by Fmr LLC
Fmr LLC raised its holdings in shares of ABM Industries, Inc. (NYSE:ABM) by 52.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,158,348 shares of the business services provider’s stock after purchasing an additional 1,084,507 shares during the period. Fmr LLC’s holdings in ABM Industries were worth $92,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in ABM. NumerixS Investment Technologies Inc bought a new stake in shares of ABM Industries in the 2nd quarter worth $149,000. SG Americas Securities LLC raised its stake in shares of ABM Industries by 51.9% in the 2nd quarter. SG Americas Securities LLC now owns 5,490 shares of the business services provider’s stock worth $160,000 after buying an additional 1,875 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of ABM Industries in the 1st quarter worth $222,000. Palouse Capital Management Inc. bought a new stake in shares of ABM Industries in the 2nd quarter worth $245,000. Finally, Burney Co. raised its stake in shares of ABM Industries by 25.5% in the 2nd quarter. Burney Co. now owns 8,629 shares of the business services provider’s stock worth $252,000 after buying an additional 1,754 shares in the last quarter.
In other news, insider Scott B. Salmirs sold 6,239 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $33.98, for a total transaction of $212,001.22. Following the sale, the insider now directly owns 120,693 shares of the company’s stock, valued at $4,101,148.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dean A. Chin sold 5,682 shares of ABM Industries stock in a transaction on Friday, September 7th. The shares were sold at an average price of $33.60, for a total value of $190,915.20. Following the transaction, the senior vice president now owns 32,847 shares in the company, valued at approximately $1,103,659.20. The disclosure for this sale can be found here. Insiders have sold 13,939 shares of company stock worth $464,243 over the last ninety days. 1.30% of the stock is owned by insiders.
ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, September 6th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.65 billion. ABM Industries had a return on equity of 7.75% and a net margin of 1.34%. ABM Industries’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. Equities research analysts predict that ABM Industries, Inc. will post 1.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Thursday, October 4th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Wednesday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 40.00%.
A number of analysts have recently commented on ABM shares. ValuEngine downgraded ABM Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised ABM Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Robert W. Baird lowered ABM Industries from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $36.00 to $40.00 in a research report on Thursday, August 23rd. They noted that the move was a valuation call. Finally, TheStreet raised ABM Industries from a “c+” rating to a “b-” rating in a research report on Friday, September 14th.
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ABM Industries Company Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.
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