Daruma Capital Management LLC Sells 39,899 Shares of ABM Industries Incorporated (ABM)
Daruma Capital Management LLC trimmed its holdings in ABM Industries Incorporated (NYSE:ABM) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,198,701 shares of the business services provider’s stock after selling 39,899 shares during the quarter. ABM Industries accounts for approximately 3.0% of Daruma Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Daruma Capital Management LLC owned 2.15% of ABM Industries worth $49,770,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 946 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of ABM Industries by 60.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock worth $146,000 after acquiring an additional 1,328 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of ABM Industries by 12,666.7% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,830 shares of the business services provider’s stock worth $159,000 after acquiring an additional 3,800 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of ABM Industries by 6.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the business services provider’s stock worth $167,000 after acquiring an additional 236 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new stake in shares of ABM Industries during the 2nd quarter worth about $162,000. 78.22% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. Robert W. Baird set a $47.00 target price on shares of ABM Industries and gave the stock a “buy” rating in a research note on Thursday, August 24th. BidaskClub lowered shares of ABM Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. KeyCorp raised shares of ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a research note on Monday, September 11th. Finally, Sidoti raised shares of ABM Industries from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $55.00 in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $48.20.
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In related news, SVP Dean A. Chin sold 632 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total transaction of $28,408.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the insider now directly owns 59,152 shares in the company, valued at approximately $2,361,347.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,009 shares of company stock worth $657,233. 1.30% of the stock is owned by insiders.
ABM Industries Incorporated (ABM) traded down 0.42% on Friday, hitting $42.62. 298,833 shares of the company traded hands. The stock has a market cap of $2.78 billion, a PE ratio of 166.48 and a beta of 0.80. ABM Industries Incorporated has a 12 month low of $37.12 and a 12 month high of $45.12. The stock’s 50-day moving average is $41.87 and its 200 day moving average is $42.58.
ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, September 6th. The business services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. Equities research analysts expect that ABM Industries Incorporated will post $1.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Thursday, October 5th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, October 4th. ABM Industries’s dividend payout ratio is currently 251.86%.
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.
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