Covestor Ltd Buys 1,029 Shares of ABM Industries Incorporated (NYSE:ABM)

Covestor Ltd raised its stake in ABM Industries Incorporated (NYSE:ABM) by 30.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,398 shares of the business services provider’s stock after acquiring an additional 1,029 shares during the quarter. Covestor Ltd’s holdings in ABM Industries were worth $196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ABM. Hillsdale Investment Management Inc. acquired a new position in shares of ABM Industries during the 1st quarter worth about $4,038,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in ABM Industries during the 1st quarter worth approximately $225,000. State Board of Administration of Florida Retirement System grew its holdings in ABM Industries by 21.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,982 shares of the business services provider’s stock valued at $1,033,000 after purchasing an additional 4,070 shares during the period. ProShare Advisors LLC increased its stake in ABM Industries by 1.1% in the first quarter. ProShare Advisors LLC now owns 196,038 shares of the business services provider’s stock valued at $8,747,000 after purchasing an additional 2,166 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in ABM Industries by 2.1% in the first quarter. Illinois Municipal Retirement Fund now owns 37,752 shares of the business services provider’s stock worth $1,684,000 after purchasing an additional 787 shares during the period. 91.62% of the stock is owned by institutional investors.

ABM Industries Stock Down 0.3 %

Shares of ABM Industries stock traded down $0.14 on Tuesday, reaching $54.28. 57,417 shares of the company were exchanged, compared to its average volume of 595,682. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 14.27 and a beta of 1.16. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. ABM Industries Incorporated has a one year low of $37.61 and a one year high of $54.70. The company has a 50-day moving average of $49.60 and a 200 day moving average of $45.13.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.79 by $0.08. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.47 earnings per share for the current year.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, July 5th. ABM Industries’s dividend payout ratio is 23.56%.

Insider Transactions at ABM Industries

In other ABM Industries news, CAO Dean A. Chin sold 2,042 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $50.70, for a total transaction of $103,529.40. Following the transaction, the chief accounting officer now owns 18,493 shares in the company, valued at approximately $937,595.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ABM Industries news, CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $50.70, for a total transaction of $103,529.40. Following the transaction, the chief accounting officer now owns 18,493 shares in the company, valued at approximately $937,595.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of ABM Industries stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the completion of the transaction, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The disclosure for this sale can be found here. Insiders sold a total of 79,657 shares of company stock worth $3,960,504 over the last quarter. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

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

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.