Charles Schwab Investment Management Inc. Has $35.48 Million Stock Position in ABM Industries Incorporated (NYSE:ABM)

Charles Schwab Investment Management Inc. raised its holdings in ABM Industries Incorporated (NYSE:ABM) by 1.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 693,325 shares of the business services provider’s stock after buying an additional 12,319 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.11% of ABM Industries worth $35,484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of ABM Industries during the 4th quarter worth approximately $33,000. Adirondack Trust Co. grew its holdings in shares of ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after purchasing an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock worth $46,000 after purchasing an additional 595 shares in the last quarter. Quarry LP grew its holdings in shares of 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 purchasing an additional 721 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of ABM Industries by 60.9% during the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock worth $144,000 after purchasing an additional 1,067 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group decreased their price target on ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction on 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 transaction, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction on 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 owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

ABM Industries Price Performance

Shares of ABM stock opened at $46.76 on Monday. The stock’s fifty day simple moving average is $52.36 and its 200 day simple moving average is $53.30. 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 firm has a market cap of $2.91 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a one year low of $42.28 and a one year high of $59.78.

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

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be given a $0.265 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.27%. ABM Industries’s payout ratio is 83.46%.

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.