Bank of New York Mellon Corp Lowers Position in ABM Industries Incorporated (NYSE:ABM)

Bank of New York Mellon Corp lessened its holdings in ABM Industries Incorporated (NYSE:ABM) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 593,027 shares of the business services provider’s stock after selling 3,549 shares during the period. Bank of New York Mellon Corp owned 0.95% of ABM Industries worth $30,351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABM. Savant Capital LLC raised its position in ABM Industries by 1.7% during the fourth quarter. Savant Capital LLC now owns 11,707 shares of the business services provider’s stock valued at $599,000 after purchasing an additional 191 shares in the last quarter. Adirondack Trust Co. raised its position in 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 in the last quarter. Naples Global Advisors LLC raised its position in ABM Industries by 2.3% during the fourth quarter. Naples Global Advisors LLC now owns 11,038 shares of the business services provider’s stock valued at $565,000 after purchasing an additional 253 shares in the last quarter. CIBC Asset Management Inc raised its position in ABM Industries by 4.8% during the fourth quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 289 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in ABM Industries during the third quarter valued at about $30,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Up 5.3 %

Shares of NYSE:ABM opened at $54.87 on Friday. The stock’s 50-day moving average price is $52.69 and its 200-day moving average price is $53.58. ABM Industries Incorporated has a 12-month low of $41.51 and a 12-month high of $59.78. The stock has a market capitalization of $3.41 billion, a P/E ratio of 43.20, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data 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. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the firm earned $1.01 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity

In related news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of the sale, the chief operating officer now directly owns 87,808 shares in the company, valued at $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.