Bank of New York Mellon Corp cut its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 972,268 shares of the business services provider’s stock after selling 11,025 shares during the period. Bank of New York Mellon Corp owned approximately 1.49% of ABM Industries worth $40,553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of ABM Industries by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,506,110 shares of the business services provider’s stock worth $228,614,000 after buying an additional 244,626 shares in the last quarter. Lee Thomas H Partners LP purchased a new position in shares of ABM Industries during the 3rd quarter worth approximately $188,691,000. Northern Trust Corp raised its stake in shares of ABM Industries by 3.6% during the 2nd quarter. Northern Trust Corp now owns 1,637,601 shares of the business services provider’s stock worth $67,993,000 after buying an additional 57,497 shares in the last quarter. Channing Capital Management LLC raised its stake in shares of ABM Industries by 4.8% during the 3rd quarter. Channing Capital Management LLC now owns 1,463,858 shares of the business services provider’s stock worth $61,058,000 after buying an additional 66,957 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of ABM Industries by 65.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,775 shares of the business services provider’s stock worth $51,544,000 after buying an additional 489,875 shares in the last quarter. 96.04% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on ABM. Zacks Investment Research raised ABM Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 7th. KeyCorp raised ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 target price for the company 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. Finally, Robert W. Baird set a $47.00 target price on ABM Industries and gave the stock a “buy” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ABM Industries currently has an average rating of “Buy” and a consensus price target of $48.20.

Shares of ABM Industries Incorporated (ABM) opened at $43.54 on Thursday. The firm has a market capitalization of $2,800.19, a P/E ratio of 22.75 and a beta of 0.80. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.27. ABM Industries Incorporated has a fifty-two week low of $37.12 and a fifty-two week high of $45.12.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, September 6th. The business services provider reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates 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 was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. analysts expect that ABM Industries Incorporated will post 1.85 earnings per share for the current year.

In related news, insider Scott J. Giacobbe sold 11,094 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $39.92, for a total value of $442,872.48. Following the sale, the insider now owns 59,152 shares in the company, valued at approximately $2,361,347.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Dean A. Chin sold 880 shares of the company’s stock in a transaction that occurred on 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. Corporate insiders own 1.30% of the company’s stock.

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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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