United Services Automobile Association grew its stake in shares of ABM Industries, Inc. (NYSE:ABM) by 25.7% during the second quarter, Holdings Channel reports. The firm owned 18,538 shares of the business services provider’s stock after purchasing an additional 3,785 shares during the period. United Services Automobile Association’s holdings in ABM Industries were worth $742,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in ABM Industries during the second quarter worth approximately $28,000. Valeo Financial Advisors LLC acquired a new stake in ABM Industries during the second quarter worth approximately $41,000. Point72 Hong Kong Ltd acquired a new stake in ABM Industries during the second quarter worth approximately $48,000. Krane Funds Advisors LLC acquired a new stake in ABM Industries during the second quarter worth approximately $59,000. Finally, Point72 Asset Management L.P. acquired a new stake in ABM Industries during the second quarter worth approximately $88,000. 99.46% of the stock is currently owned by institutional investors.
In related news, insider Scott B. Salmirs sold 7,699 shares of ABM Industries stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $41.41, for a total value of $318,815.59. Following the transaction, the insider now directly owns 160,758 shares in the company, valued at approximately $6,656,988.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rene Jacobsen sold 1,500 shares of ABM Industries stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $38.22, for a total transaction of $57,330.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,904 shares of company stock worth $566,797. Insiders own 0.94% of the company’s stock.
ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, September 5th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. ABM Industries had a net margin of 1.37% and a return on equity of 8.90%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. As a group, equities research analysts forecast that ABM Industries, Inc. will post 2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.99%. ABM Industries’s dividend payout ratio (DPR) is presently 38.10%.
A number of equities analysts have recently issued reports on ABM shares. ValuEngine lowered shares of ABM Industries from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Robert W. Baird set a $38.00 target price on shares of ABM Industries and gave the stock a “hold” rating in a research report on Friday, September 6th. William Blair started coverage on shares of ABM Industries in a research report on Thursday, August 15th. They set a “market perform” rating on the stock. Finally, Maxim Group set a $50.00 target price on shares of ABM Industries and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. ABM Industries currently has a consensus rating of “Hold” and an average price target of $41.96.
About ABM Industries
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.
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