Burney Co. Has $678,000 Stock Position in ABM Industries Incorporated (NYSE:ABM)

Burney Co. increased its stake in ABM Industries Incorporated (NYSE:ABM) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,195 shares of the business services provider’s stock after buying an additional 748 shares during the quarter. Burney Co.’s holdings in ABM Industries were worth $678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABM. GAMMA Investing LLC bought a new stake in ABM Industries during the fourth quarter worth $25,000. SRS Capital Advisors Inc. lifted its stake in ABM Industries by 323.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 511 shares during the last quarter. Lazard Asset Management LLC grew its holdings in ABM Industries by 2,102.0% during the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,030 shares during the period. Clarity Asset Management Inc. acquired a new position in ABM Industries during the fourth quarter worth approximately $54,000. Finally, Quest Partners LLC acquired a new position in ABM Industries during the fourth quarter worth approximately $58,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Stock Performance

NYSE:ABM traded down $0.55 during mid-day trading on Friday, reaching $54.75. 359,680 shares of the company’s stock were exchanged, compared to its average volume of 473,688. ABM Industries Incorporated has a one year low of $37.61 and a one year high of $56.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.44. The business’s fifty day simple moving average is $51.03 and its two-hundred day simple moving average is $45.88. The firm has a market capitalization of $3.44 billion, a PE ratio of 14.33 and a beta of 1.16.

ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Analysts anticipate that ABM Industries Incorporated will post 3.46 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders 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 dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, July 5th. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

Insider Buying and Selling

In related news, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the sale, the chief executive officer now owns 378,391 shares in the company, valued at approximately $18,503,319.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total value of $1,222,500.00. Following the sale, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott B. Salmirs sold 11,736 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the transaction, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,778 shares of company stock worth $4,039,248. Company insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABM shares. StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a report on Friday. UBS Group increased their price target on shares of ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Finally, Robert W. Baird boosted their price objective on ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, ABM Industries presently has a consensus 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.