BKS Advisors LLC lowered its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,185 shares of the business services provider’s stock after selling 372 shares during the period. BKS Advisors LLC’s holdings in ABM Industries were worth $340,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ABM. IndexIQ Advisors LLC acquired a new stake in shares of ABM Industries during the second quarter valued at approximately $451,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ABM Industries by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,629 shares of the business services provider’s stock valued at $109,000 after buying an additional 229 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of ABM Industries by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,209 shares of the business services provider’s stock valued at $216,000 after buying an additional 782 shares in the last quarter. Boston Private Wealth LLC raised its stake in shares of ABM Industries by 11.6% in the second quarter. Boston Private Wealth LLC now owns 20,134 shares of the business services provider’s stock valued at $836,000 after buying an additional 2,095 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of ABM Industries by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 53,260 shares of the business services provider’s stock valued at $2,211,000 after buying an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 91.49% of the company’s stock.

ABM Industries Incorporated (NYSE:ABM) opened at 43.96 on Thursday. ABM Industries Incorporated has a 52-week low of $37.60 and a 52-week high of $45.12. The company has a 50 day moving average price of $43.62 and a 200 day moving average price of $42.60. The firm has a market capitalization of $2.45 billion, a P/E ratio of 195.38 and a beta of 0.80.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Wednesday, June 7th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.06. ABM Industries had a net margin of 0.25% and a return on equity of 11.44%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts forecast that ABM Industries Incorporated will post $1.95 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Thursday, July 6th were given a $0.17 dividend. The ex-dividend date was Monday, July 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.55%. ABM Industries’s payout ratio is currently 283.33%.

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Several brokerages have recently commented on ABM. BidaskClub upgraded ABM Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Robert W. Baird set a $47.00 price objective on ABM Industries and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Sidoti upgraded ABM Industries from a “neutral” rating to a “buy” rating and increased their price objective for the company from $49.00 to $55.00 in a report on Thursday, July 13th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. ABM Industries has a consensus rating of “Buy” and an average target price of $48.25.

In related news, SVP Dean A. Chin sold 632 shares of ABM Industries stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total value of $28,408.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Rene Jacobsen sold 950 shares of ABM Industries stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $43.95, for a total transaction of $41,752.50. Following the completion of the sale, the insider now owns 16,594 shares in the company, valued at $729,306.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,925 shares of company stock worth $385,575. Insiders own 1.30% of the company’s stock.

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.

Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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