Nisa Investment Advisors LLC Reduces Position in ABM Industries Incorporated (NYSE:ABM)

Nisa Investment Advisors LLC lowered its stake in ABM Industries Incorporated (NYSE:ABM) by 15.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,992 shares of the business services provider’s stock after selling 357 shares during the period. Nisa Investment Advisors LLC’s holdings in ABM Industries were worth $102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in ABM Industries in the 3rd quarter worth $30,000. Copeland Capital Management LLC acquired a new position in shares of ABM Industries in the third quarter valued at about $37,000. GAMMA Investing LLC raised its stake in shares of ABM Industries by 58.8% in the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock worth $84,000 after purchasing an additional 589 shares during the last quarter. Quarry LP lifted its holdings in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after purchasing an additional 721 shares during the period. Finally, Xponance Inc. purchased a new stake in ABM Industries in the second quarter valued at approximately $204,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ABM Industries

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the transaction, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.04% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, UBS Group lifted their price objective on shares of ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th.

ABM Industries Stock Performance

Shares of ABM stock opened at $53.17 on Friday. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The stock has a market cap of $3.31 billion, a PE ratio of 41.87, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16. The business has a 50-day simple moving average of $53.60 and a 200-day simple moving average of $53.69.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. ABM Industries’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. On average, equities analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, January 2nd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio (DPR) is currently 83.47%.

ABM Industries Profile

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.