Maryland State Retirement & Pension System lowered its stake in ABM Industries Incorporated (NYSE:ABM – Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,651 shares of the business services provider’s stock after selling 1,166 shares during the quarter. Maryland State Retirement & Pension System’s holdings in ABM Industries were worth $990,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in ABM Industries by 136.5% in the 4th quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock valued at $3,529,000 after buying an additional 45,442 shares in the last quarter. Quadrature Capital Ltd lifted its stake in ABM Industries by 203.0% in the 4th quarter. Quadrature Capital Ltd now owns 37,990 shares of the business services provider’s stock valued at $1,703,000 after buying an additional 25,453 shares in the last quarter. Seven Eight Capital LP purchased a new stake in ABM Industries in the 4th quarter valued at approximately $795,000. Olstein Capital Management L.P. lifted its stake in ABM Industries by 18.3% in the 1st quarter. Olstein Capital Management L.P. now owns 289,953 shares of the business services provider’s stock valued at $12,938,000 after buying an additional 44,953 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ABM Industries by 15.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,216 shares of the business services provider’s stock valued at $637,000 after buying an additional 1,851 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.
ABM Industries Trading Down 1.5 %
Shares of ABM opened at $49.45 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $3.10 billion, a P/E ratio of 12.95 and a beta of 1.16. The stock’s fifty day simple moving average is $48.08 and its 200 day simple moving average is $44.62. ABM Industries Incorporated has a twelve month low of $37.61 and a twelve month high of $53.05.
ABM Industries (NYSE:ABM – Get Free Report) last announced its quarterly earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.47 earnings per share for the current year.
ABM Industries Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be issued a $0.225 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.90 annualized dividend and a yield of 1.82%. ABM Industries’s dividend payout ratio is currently 23.56%.
Analyst Ratings Changes
ABM has been the topic of a number of recent analyst reports. StockNews.com raised ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Robert W. Baird increased their price target on ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, June 10th. Finally, UBS Group increased their price target on ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, ABM Industries currently has a consensus rating of “Hold” and an average price target of $48.80.
Get Our Latest Analysis on ABM
Insider Activity at ABM Industries
In related news, EVP Andrea R. Newborn sold 12,615 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the sale, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,063,115. The sale was disclosed…
Read More: ABM Industries Incorporated (NYSE:ABM) Shares Sold by Maryland State Retirement