Comerica Bank Has $3.90 Million Stake in ABM Industries (ABM)

Comerica Bank grew its position in ABM Industries (NYSE:ABM) by 108.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,143 shares of the business services provider’s stock after purchasing an additional 63,043 shares during the quarter. Comerica Bank owned approximately 0.18% of ABM Industries worth $3,904,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Fusion Family Wealth LLC bought a new stake in shares of ABM Industries in the 4th quarter valued at $158,000. Centiva Capital LP bought a new stake in shares of ABM Industries in the 4th quarter valued at $239,000. CIBC Asset Management Inc bought a new stake in shares of ABM Industries in the 4th quarter valued at $265,000. Meadow Creek Investment Management LLC boosted its stake in shares of ABM Industries by 22.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 7,700 shares of the business services provider’s stock valued at $291,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Burney Co. boosted its stake in shares of ABM Industries by 25.5% in the 4th quarter. Burney Co. now owns 8,629 shares of the business services provider’s stock valued at $325,000 after purchasing an additional 1,754 shares during the last quarter. 99.15% of the stock is currently owned by institutional investors.

ABM Industries stock opened at $30.10 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.74 and a current ratio of 1.74. ABM Industries has a 12-month low of $30.13 and a 12-month high of $30.41. The firm has a market cap of $1.99 billion, a P/E ratio of 18.58 and a beta of 0.84.

ABM Industries (NYSE:ABM) last released its earnings results on Tuesday, March 6th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). ABM Industries had a net margin of 1.55% and a return on equity of 8.33%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. The firm’s revenue was up 19.7% on a year-over-year basis. equities research analysts expect that ABM Industries will post 1.93 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 7th. Investors of record on Thursday, April 5th were given a dividend of $0.175 per share. The ex-dividend date was Wednesday, April 4th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.33%. ABM Industries’s payout ratio is presently 40.00%.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of ABM Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. ValuEngine downgraded shares of ABM Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Robert W. Baird reiterated an “outperform” rating and set a $40.00 target price (up previously from $39.00) on shares of ABM Industries in a research report on Thursday, March 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned 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 a consensus price target of $45.75.

ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.

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

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