Franklin Resources Inc. reduced its holdings in ABM Industries, Inc. (NYSE:ABM) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,957,520 shares of the business services provider’s stock after selling 7,772 shares during the period. Franklin Resources Inc. owned about 2.99% of ABM Industries worth $73,838,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of ABM. ArrowMark Colorado Holdings LLC acquired a new stake in ABM Industries in the fourth quarter valued at approximately $50,698,000. Channing Capital Management LLC lifted its position in shares of ABM Industries by 25.2% in the fourth quarter. Channing Capital Management LLC now owns 1,833,221 shares of the business services provider’s stock valued at $69,149,000 after acquiring an additional 369,363 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its position in shares of ABM Industries by 62.7% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 798,509 shares of the business services provider’s stock valued at $30,120,000 after acquiring an additional 307,846 shares in the last quarter. Sunriver Management LLC lifted its position in shares of ABM Industries by 66.8% in the fourth quarter. Sunriver Management LLC now owns 734,210 shares of the business services provider’s stock valued at $27,694,000 after acquiring an additional 294,010 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of ABM Industries by 1,354.9% in the third quarter. Allianz Asset Management GmbH now owns 301,971 shares of the business services provider’s stock valued at $12,595,000 after acquiring an additional 281,216 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.
In related news, Director Linda Chavez sold 2,103 shares of ABM Industries stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $38.89, for a total transaction of $81,785.67. Following the transaction, the director now owns 16,557 shares in the company, valued at $643,901.73. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
ABM Industries stock traded down $0.91 during trading on Friday, reaching $32.63. 675,846 shares of the company were exchanged, compared to its average volume of 848,654. ABM Industries, Inc. has a 52-week low of $32.34 and a 52-week high of $45.12. The company has a market cap of $2,139.26, a price-to-earnings ratio of 18.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.74 and a current ratio of 1.74.
ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Tuesday, March 6th. The business services provider reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). ABM Industries had a return on equity of 8.33% and a net margin of 1.55%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. analysts predict that ABM Industries, Inc. will post 1.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 7th. Investors of record on Thursday, April 5th will be given a dividend of $0.175 per share. The ex-dividend date is Wednesday, April 4th. This represents a $0.70 dividend on an annualized basis and a yield of 2.15%. ABM Industries’s payout ratio is 40.00%.
Several research firms have recently weighed in on ABM. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “strong sell” rating in a research report on Tuesday, March 20th. Robert W. Baird set a $40.00 target price on ABM Industries and gave the company a “buy” rating in a research report on Saturday, March 17th. Finally, TheStreet downgraded ABM Industries from a “b” rating to a “c+” rating in a research report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $45.75.
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About ABM Industries
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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