Vanguard Group Inc. Has $360.59 Million Position in ABM Industries Incorporated (NYSE:ABM)

Vanguard Group Inc. grew its stake in ABM Industries Incorporated (NYSE:ABM) by 0.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,043,485 shares of the business services provider’s stock after buying an additional 2,751 shares during the period. Vanguard Group Inc. owned 12.71% of ABM Industries worth $360,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in ABM Industries in the fourth quarter valued at approximately $25,000. SRS Capital Advisors Inc. boosted its stake in shares of ABM Industries by 323.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 511 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of ABM Industries during the fourth quarter worth $48,000. Clarity Asset Management Inc. bought a new position in ABM Industries during the fourth quarter worth $54,000. Finally, Quest Partners LLC acquired a new position in ABM Industries in the fourth quarter valued at $58,000. 91.62% of the stock is currently owned by institutional investors.

ABM Industries Stock Up 1.0 %

Shares of NYSE:ABM opened at $50.57 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.44. ABM Industries Incorporated has a 52-week low of $37.61 and a 52-week high of $53.05. The business’s 50 day simple moving average is $47.50 and its two-hundred day simple moving average is $44.51. The firm has a market cap of $3.17 billion, a P/E ratio of 13.24 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted 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 net margin of 3.04% and a return on equity of 12.52%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the firm posted $0.90 EPS. ABM Industries’s revenue was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that ABM Industries Incorporated will post 3.47 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a yield of 1.78%. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

Insiders Place Their Bets

In related news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,063,115. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group lifted their price objective on ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Robert W. Baird boosted their price target on ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, June 10th. Finally, StockNews.com upgraded ABM Industries from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ABM Industries currently has an average rating of “Hold” and a consensus price target of $48.80.

About ABM Industries

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.