ABM Industries Incorporated (NYSE:ABM) Holdings Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,918 shares of the business services provider’s stock after acquiring an additional 2,364 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of ABM Industries worth $1,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of ABM Industries during the 3rd quarter worth $30,000. Adirondack Trust Co. lifted its holdings in shares of ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 200 shares during the last quarter. Quarry LP raised its holdings in ABM Industries by 49.7% during the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after buying an additional 721 shares during the period. KBC Group NV lifted its stake in ABM Industries by 60.9% during the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock valued at $144,000 after buying an additional 1,067 shares in the last quarter. Finally, Pallas Capital Advisors LLC acquired a new position in shares of ABM Industries in the third quarter worth about $210,000. Institutional investors own 91.62% of the company’s stock.

Insiders Place Their Bets

In other news, COO Rene Jacobsen sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of the transaction, the chief operating officer now owns 87,808 shares of the company’s stock, valued at $4,639,774.72. The trade was a 10.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

ABM Industries Trading Down 0.3 %

Shares of ABM Industries stock opened at $52.47 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The company’s fifty day moving average price is $52.29 and its two-hundred day moving average price is $53.58. ABM Industries Incorporated has a 52-week low of $40.33 and a 52-week high of $59.78. The firm has a market capitalization of $3.26 billion, a PE ratio of 41.31, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16.

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 the consensus estimate of $0.87 by $0.03. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd were paid a $0.265 dividend. The ex-dividend date was Thursday, January 2nd. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 dividend on an annualized basis and a yield of 2.02%. ABM Industries’s dividend payout ratio (DPR) is presently 83.46%.

Analyst Upgrades and Downgrades

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

ABM Industries Company 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.