ABM Industries Incorporated (ABM) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in ABM Industries Incorporated (NYSE:ABM) by 14.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 949,707 shares of the business services provider’s stock after selling 163,524 shares during the quarter. Ameriprise Financial Inc. owned 1.46% of ABM Industries worth $39,613,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ABM. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ABM Industries by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,629 shares of the business services provider’s stock worth $109,000 after buying an additional 229 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of ABM Industries by 60.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock worth $146,000 after buying an additional 1,328 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in ABM Industries by 12,666.7% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,830 shares of the business services provider’s stock valued at $159,000 after acquiring an additional 3,800 shares during the period. Bruderman Asset Management LLC bought a new stake in ABM Industries in the 2nd quarter valued at about $164,000. Finally, D.A. Davidson & CO. bought a new stake in ABM Industries in the 2nd quarter valued at about $171,000. 96.05% of the stock is currently owned by institutional investors.

In other news, insider Scott J. Giacobbe sold 11,094 shares of the company’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 $2,361,347.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Dean A. Chin sold 880 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were 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.

A number of equities research analysts recently issued reports on ABM shares. Zacks Investment Research cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub cut ABM Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Robert W. Baird set a $47.00 price objective on ABM Industries and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, KeyCorp upgraded ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research note on Monday, September 11th. One 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 company’s stock. ABM Industries presently has a consensus rating of “Buy” and an average price target of $48.20.

Shares of ABM Industries Incorporated (NYSE:ABM) opened at $42.66 on Friday. ABM Industries Incorporated has a 52 week low of $37.12 and a 52 week high of $45.12. The stock has a market capitalization of $2,778.70, a PE ratio of 22.57 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 (NYSE:ABM) last announced its quarterly earnings data on Wednesday, September 6th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The company’s 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 fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Thursday, October 5th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Wednesday, October 4th. ABM Industries’s dividend payout ratio is presently 251.86%.

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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.

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

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