ABM Industries Inc. (ABM) Position Decreased by Principal Financial Group Inc.
Principal Financial Group Inc. reduced its position in shares of ABM Industries Inc. (NYSE:ABM) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 916,656 shares of the company’s stock after selling 2,186 shares during the period. Principal Financial Group Inc. owned about 1.64% of ABM Industries worth $33,440,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in ABM. Bruderman Asset Management LLC raised its position in ABM Industries by 100.4% in the second quarter. Bruderman Asset Management LLC now owns 2,916 shares of the company’s stock worth $106,000 after buying an additional 1,461 shares in the last quarter. Quantbot Technologies LP raised its position in ABM Industries by 334.7% in the second quarter. Quantbot Technologies LP now owns 3,486 shares of the company’s stock worth $127,000 after buying an additional 2,684 shares in the last quarter. Acadian Asset Management LLC purchased a new position in ABM Industries during the second quarter worth approximately $168,000. BlackRock Inc. raised its position in ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock worth $170,000 after buying an additional 1,591 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in ABM Industries by 21.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,538 shares of the company’s stock worth $202,000 after buying an additional 984 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.
Shares of ABM Industries Inc. (NYSE:ABM) traded up 0.56% during midday trading on Thursday, reaching $39.58. 64,795 shares of the company’s stock traded hands. ABM Industries Inc. has a 52-week low of $26.50 and a 52-week high of $40.47. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 25.60 and a beta of 0.78. The stock has a 50 day moving average of $38.32 and a 200-day moving average of $35.12.
ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The business earned $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm posted $0.47 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. On average, equities research analysts expect that ABM Industries Inc. will post $1.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Thursday, October 6th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, October 4th. ABM Industries’s payout ratio is 42.58%.
A number of equities analysts recently issued reports on ABM shares. Zacks Investment Research raised shares of ABM Industries from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Friday, September 9th. Imperial Capital boosted their target price 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. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $44.00 target price on shares of ABM Industries in a research report on Saturday, September 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of C$32.05.
In other ABM Industries news, Director Maryellen C. Herringer sold 1,854 shares of the stock in a transaction on Friday, July 8th. The stock was sold at an average price of C$36.83, for a total transaction of C$68,282.82. Following the transaction, the director now owns 156,777 shares in the company, valued at approximately C$5,774,096.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott J. Giacobbe sold 5,000 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of C$36.86, for a total value of C$184,300.00. Following the transaction, the insider now owns 37,807 shares in the company, valued at approximately C$1,393,566.02. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
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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