Legato Capital Management LLC bought a new position in ABM Industries Incorporated (NYSE:ABM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,659 shares of the business services provider’s stock, valued at approximately $319,000.
A number of other institutional investors have also recently made changes to their positions in the business. Channing Capital Management LLC raised its holdings in ABM Industries by 4.8% in the third quarter. Channing Capital Management LLC now owns 1,463,858 shares of the business services provider’s stock worth $61,058,000 after purchasing an additional 66,957 shares in the last quarter. Lee Thomas H Partners LP bought a new position in ABM Industries in the third quarter worth about $188,691,000. Vaughan Nelson Investment Management L.P. raised its holdings in ABM Industries by 65.7% in the third 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 purchasing an additional 489,875 shares in the last quarter. Strs Ohio raised its holdings in ABM Industries by 4.0% in the third quarter. Strs Ohio now owns 31,000 shares of the business services provider’s stock worth $1,293,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Phocas Financial Corp. raised its holdings in ABM Industries by 4.7% in the second quarter. Phocas Financial Corp. now owns 139,647 shares of the business services provider’s stock worth $5,798,000 after purchasing an additional 6,230 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.
WARNING: This piece was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.com-unik.info/2017/11/04/legato-capital-management-llc-invests-319000-in-abm-industries-incorporated-abm-stock.html.
In related news, SVP Dean A. Chin sold 632 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dean A. Chin sold 880 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $42.90, for a total transaction of $37,752.00. The disclosure for this sale can be found here. Insiders sold a total of 13,106 shares of company stock valued at $531,533 in the last three months. 1.30% of the stock is owned by company insiders.
ABM has been the subject of a number of recent research reports. BidaskClub upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Robert W. Baird reiterated an “outperform” rating and issued a $47.00 target price (down from $49.00) on shares of ABM Industries in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Monday, July 17th. Sidoti upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $55.00 in a report on Thursday, July 13th. Finally, KeyCorp upgraded shares of ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 target price for the company in a report on Monday, September 11th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.20.
Shares of ABM Industries Incorporated (NYSE:ABM) traded down $0.07 during mid-day trading on Friday, hitting $41.06. The stock had a trading volume of 122,404 shares, compared to its average volume of 247,824. The firm has a market cap of $2.68 billion, a PE ratio of 21.75 and a beta of 0.81. 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 (NYSE:ABM) last announced its quarterly earnings results on Wednesday, September 6th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.03). ABM Industries had a net margin of 0.29% and a return on equity of 11.37%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $0.54 EPS. ABM Industries’s quarterly revenue was up 1.7% on a year-over-year basis. equities analysts anticipate that ABM Industries Incorporated will post 1.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Thursday, October 5th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, October 4th. ABM Industries’s dividend payout ratio (DPR) is 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.
Want to see what other hedge funds are holding ABM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ABM Industries Incorporated (NYSE:ABM).
What are top analysts saying about ABM Industries Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for ABM Industries Incorporated and related companies.