Rothschild Asset Management Inc. Acquires 2,721 Shares of ABM Industries Incorporated (ABM)
Rothschild Asset Management Inc. increased its stake in ABM Industries Incorporated (NYSE:ABM) by 1.1% during the third quarter, Holdings Channel reports. The firm owned 255,779 shares of the company’s stock after buying an additional 2,721 shares during the period. Rothschild Asset Management Inc.’s holdings in ABM Industries were worth $10,154,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in ABM. Alliancebernstein L.P. increased its position in ABM Industries by 30.2% in the second quarter. Alliancebernstein L.P. now owns 2,676,142 shares of the company’s stock valued at $97,626,000 after buying an additional 620,108 shares during the period. Macquarie Group Ltd. increased its position in ABM Industries by 133.5% in the second quarter. Macquarie Group Ltd. now owns 498,041 shares of the company’s stock valued at $18,169,000 after buying an additional 284,750 shares during the period. Capital World Investors bought a new position in ABM Industries during the second quarter valued at approximately $8,026,000. Aberdeen Asset Management PLC UK increased its position in ABM Industries by 85.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 467,016 shares of the company’s stock valued at $17,036,000 after buying an additional 214,644 shares during the period. Finally, Vanguard Group Inc. increased its position in ABM Industries by 4.1% in the second quarter. Vanguard Group Inc. now owns 4,638,251 shares of the company’s stock valued at $169,204,000 after buying an additional 181,730 shares during the period. 90.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ABM Industries Incorporated (NYSE:ABM) opened at 39.77 on Friday. The company has a market cap of $2.21 billion, a PE ratio of 39.77 and a beta of 0.83. The company has a 50-day moving average of $41.56 and a 200 day moving average of $39.28. ABM Industries Incorporated has a 12 month low of $26.98 and a 12 month high of $45.03.
ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Tuesday, December 13th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $1.32 billion for the quarter. ABM Industries had a net margin of 1.11% and a return on equity of 10.00%. ABM Industries’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. On average, analysts anticipate that ABM Industries Incorporated will post $1.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 6th. Stockholders of record on Thursday, January 5th will be paid a dividend of $0.17 per share. This is a boost from ABM Industries’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, January 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.71%. ABM Industries’s dividend payout ratio (DPR) is presently 67.33%.
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ABM has been the topic of several research analyst reports. Sidoti downgraded shares of ABM Industries from a “buy” rating to a “neutral” rating in a report on Wednesday, November 16th. Zacks Investment Research cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Monday, November 14th. Robert W. Baird cut shares of ABM Industries from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $44.00 to $46.00 in a research report on Tuesday, December 6th. Finally, Imperial Capital boosted their price target on shares of ABM Industries from $38.00 to $43.00 and gave the stock a “line” rating in a research report on Wednesday, January 4th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. The company has an average rating of “Hold” and an average price target of $44.67.
In other news, EVP Sarah H. Mcconnell sold 4,172 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $40.46, for a total transaction of $168,799.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Diego Anthony Scaglione sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $42.50, for a total transaction of $29,750.00. The disclosure for this sale can be found here. 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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