39,495 Shares in ABM Industries Incorporated (ABM) Acquired by Quantbot Technologies LP
Quantbot Technologies LP purchased a new position in shares of ABM Industries Incorporated (NYSE:ABM) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 39,495 shares of the business services provider’s stock, valued at approximately $1,647,000. Quantbot Technologies LP owned approximately 0.06% of ABM Industries as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System lifted its position in ABM Industries by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 29,038 shares of the business services provider’s stock worth $1,206,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in ABM Industries by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the business services provider’s stock worth $943,000 after buying an additional 100 shares in the last quarter. Amalgamated Bank lifted its position in ABM Industries by 2.6% during the 2nd quarter. Amalgamated Bank now owns 7,743 shares of the business services provider’s stock worth $321,000 after buying an additional 196 shares in the last quarter. Personal Capital Advisors Corp lifted its position in ABM Industries by 0.4% during the 2nd quarter. Personal Capital Advisors Corp now owns 59,250 shares of the business services provider’s stock worth $2,460,000 after buying an additional 208 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ABM Industries by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,629 shares of the business services provider’s stock worth $109,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 85.64% of the company’s stock.
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Several brokerages recently issued reports on ABM. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub downgraded shares of ABM Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Robert W. Baird set a $47.00 price target on shares of ABM Industries and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, KeyCorp upgraded shares of ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a research report on Monday, September 11th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. ABM Industries currently has a consensus rating of “Buy” and an average price target of $48.20.
In other ABM Industries news, insider Scott J. Giacobbe sold 11,094 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $39.92, for a total transaction of $442,872.48. Following the completion of the sale, the insider now directly owns 59,152 shares of the company’s stock, valued at approximately $2,361,347.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dean A. Chin sold 880 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $42.90, for a total value of $37,752.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Shares of ABM Industries Incorporated (NYSE:ABM) opened at $39.91 on Friday. The firm has a market capitalization of $2,599.58, a PE ratio of 21.12 and a beta of 0.81. ABM Industries Incorporated has a twelve month low of $37.12 and a twelve month high of $45.12. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.27.
ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, September 6th. The business services provider reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The firm had revenue of $1.32 billion for 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 posted $0.54 earnings per share. equities analysts anticipate that ABM Industries Incorporated will post 1.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Thursday, October 5th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $0.68 annualized dividend and a yield of 1.70%. ABM Industries’s dividend payout ratio is currently 251.86%.
About ABM Industries
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.
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