Personal Capital Advisors Corp reduced its position in shares of ABM Industries, Inc. (NYSE:ABM) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 123,823 shares of the business services provider’s stock after selling 988 shares during the quarter. Personal Capital Advisors Corp owned about 0.19% of ABM Industries worth $3,976,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in ABM Industries by 3.6% during the 3rd quarter. BlackRock Inc. now owns 9,601,518 shares of the business services provider’s stock worth $309,650,000 after buying an additional 332,496 shares during the period. MetLife Investment Advisors LLC increased its holdings in ABM Industries by 17.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 30,335 shares of the business services provider’s stock worth $885,000 after purchasing an additional 4,564 shares in the last quarter. Prudential Financial Inc. increased its holdings in ABM Industries by 1.2% during the 3rd quarter. Prudential Financial Inc. now owns 159,312 shares of the business services provider’s stock worth $5,138,000 after purchasing an additional 1,900 shares in the last quarter. Bank of America Corp DE increased its holdings in ABM Industries by 61.8% during the 2nd quarter. Bank of America Corp DE now owns 1,766,838 shares of the business services provider’s stock worth $51,557,000 after purchasing an additional 675,127 shares in the last quarter. Finally, Aperio Group LLC increased its holdings in ABM Industries by 19.4% during the 3rd quarter. Aperio Group LLC now owns 43,843 shares of the business services provider’s stock worth $1,414,000 after purchasing an additional 7,122 shares in the last quarter.
In related news, Director Linda Chavez sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $34.62, for a total value of $103,860.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Dean A. Chin sold 3,024 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $31.20, for a total value of $94,348.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,920 shares of company stock valued at $433,293. 0.81% of the stock is currently owned by corporate insiders.
ABM Industries (NYSE:ABM) last released its earnings results on Tuesday, December 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. ABM Industries had a return on equity of 8.70% and a net margin of 1.52%. During the same period in the prior year, the company posted $0.37 earnings per share. Analysts anticipate that ABM Industries, Inc. will post 1.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 4th. Stockholders of record on Thursday, January 3rd will be issued a $0.18 dividend. The ex-dividend date is Wednesday, January 2nd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a dividend yield of 2.06%. ABM Industries’s dividend payout ratio is currently 38.10%.
ABM has been the subject of a number of recent research reports. ValuEngine lowered ABM Industries from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research raised ABM Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 23rd. Sidoti decreased their price objective on ABM Industries from $46.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, December 11th. TheStreet lowered ABM Industries from a “b” rating to a “c+” rating in a report on Tuesday, December 11th. Finally, Robert W. Baird decreased their price objective on ABM Industries from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. ABM Industries has an average rating of “Hold” and an average target price of $38.00.
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About ABM Industries
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.
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