Verition Fund Management LLC lifted its position in shares of ABM Industries, Inc. (NYSE:ABM) by 21.3% during the 1st quarter, HoldingsChannel reports. The fund owned 13,355 shares of the business services provider’s stock after acquiring an additional 2,343 shares during the quarter. Verition Fund Management LLC’s holdings in ABM Industries were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of ABM. Jane Street Group LLC acquired a new stake in shares of ABM Industries during the 1st quarter valued at approximately $222,000. Koch Industries Inc. acquired a new stake in shares of ABM Industries during the 1st quarter valued at approximately $272,000. Meadow Creek Investment Management LLC raised its position in shares of ABM Industries by 22.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 7,700 shares of the business services provider’s stock valued at $291,000 after acquiring an additional 1,428 shares in the last quarter. Burney Co. raised its position in shares of ABM Industries by 25.5% during the 4th quarter. Burney Co. now owns 8,629 shares of the business services provider’s stock valued at $325,000 after acquiring an additional 1,754 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of ABM Industries during the 1st quarter valued at approximately $364,000. 99.15% of the stock is currently owned by institutional investors and hedge funds.
In other ABM Industries news, COO Scott J. Giacobbe sold 3,342 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $30.90, for a total value of $103,267.80. Following the sale, the chief operating officer now owns 62,186 shares in the company, valued at $1,921,547.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is currently owned by corporate insiders.
Shares of ABM Industries opened at $30.13 on Tuesday, according to Marketbeat. The firm has a market cap of $2.00 billion, a P/E ratio of 17.22 and a beta of 0.79. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.76. ABM Industries, Inc. has a 12 month low of $28.17 and a 12 month high of $45.12.
ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, June 6th. The business services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.55 billion. ABM Industries had a net margin of 1.40% and a return on equity of 7.79%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. equities analysts forecast that ABM Industries, Inc. will post 1.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 6th. Shareholders of record on Thursday, July 5th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, July 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 40.00%.
Several research firms recently issued reports on ABM. ValuEngine lowered ABM Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, June 1st. Zacks Investment Research upgraded ABM Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, Robert W. Baird restated an “outperform” rating and set a $40.00 price objective (up from $39.00) on shares of ABM Industries in a research note on Thursday, March 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $45.75.
ABM Industries Company Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.
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