Gemmer Asset Management LLC lowered its stake in shares of ABM Industries, Inc. (NYSE:ABM) by 0.3% during the first quarter, Holdings Channel reports. The firm owned 603,093 shares of the business services provider’s stock after selling 1,515 shares during the period. ABM Industries accounts for 11.7% of Gemmer Asset Management LLC’s holdings, making the stock its largest position. Gemmer Asset Management LLC’s holdings in ABM Industries were worth $26,295,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Elkfork Partners LLC purchased a new stake in ABM Industries during the fourth quarter valued at $110,000. Fusion Family Wealth LLC purchased a new stake in ABM Industries during the fourth quarter valued at $167,000. Silvercrest Asset Management Group LLC purchased a new stake in ABM Industries during the fourth quarter valued at $254,000. BigSur Wealth Management LLC purchased a new stake in ABM Industries during the fourth quarter valued at $263,000. Finally, Bank of Montreal Can increased its stake in ABM Industries by 14.0% in the first quarter. Bank of Montreal Can now owns 7,576 shares of the business services provider’s stock valued at $331,000 after buying an additional 931 shares during the period. 89.88% of the stock is currently owned by institutional investors.
ABM Industries, Inc. (NYSE:ABM) traded up 0.80% during midday trading on Thursday, hitting $42.99. The company had a trading volume of 136,469 shares. ABM Industries, Inc. has a 52 week low of $31.74 and a 52 week high of $45.03. The firm’s market capitalization is $2.39 billion. The firm’s 50 day moving average is $42.67 and its 200-day moving average is $41.11.
ABM Industries (NYSE:ABM) last posted its earnings results on Tuesday, March 7th. The business services provider reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.07. The company earned $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. ABM Industries had a net margin of 1.11% and a return on equity of 10.00%. ABM Industries’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. On average, equities research analysts expect that ABM Industries, Inc. will post $1.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Thursday, April 6th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, April 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.59%. ABM Industries’s dividend payout ratio is currently 67.33%.
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Several equities research analysts recently weighed in on ABM shares. Zacks Investment Research raised ABM Industries from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Friday, March 10th. Imperial Capital raised their price objective on ABM Industries from $38.00 to $43.00 and gave the company a “line” rating in a report on Wednesday, January 4th. Finally, Robert W. Baird raised ABM Industries from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $46.00 to $50.00 in a report on Thursday, March 9th.
In other news, insider James P. Mcclure sold 8,447 shares of the stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $40.39, for a total transaction of $341,174.33. Following the completion of the sale, the insider now directly owns 144,150 shares in the company, valued at $5,822,218.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James P. Mcclure sold 1,970 shares of the stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $42.33, for a total transaction of $83,390.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,687 shares of company stock valued at $948,954. 1.30% of the stock is currently owned by company insiders.
ABM Industries Company Profile
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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