JPMorgan Chase & Co. lifted its holdings in ABM Industries Incorporated (NYSE:ABM) by 15.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,003,764 shares of the business services provider’s stock after buying an additional 131,302 shares during the period. JPMorgan Chase & Co.’s holdings in ABM Industries were worth $37,982,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fieldpoint Private Securities LLC bought a new stake in ABM Industries during the 4th quarter valued at $33,000. Vantage Consulting Group Inc bought a new stake in ABM Industries during the 4th quarter valued at $35,000. McClarren Financial Advisors Inc. bought a new stake in ABM Industries during the 4th quarter valued at $58,000. Point72 Hong Kong Ltd bought a new stake in ABM Industries during the 3rd quarter valued at $69,000. Finally, Veriti Management LLC bought a new stake in ABM Industries during the 4th quarter valued at $89,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.
A number of equities research analysts have issued reports on ABM shares. TheStreet raised shares of ABM Industries from a “c+” rating to a “b” rating in a report on Tuesday, March 9th. CL King boosted their target price on shares of ABM Industries from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, December 21st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. ABM Industries has an average rating of “Buy” and an average target price of $40.50.
ABM Industries (NYSE:ABM) last released its quarterly earnings results on Monday, March 8th. The business services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.40. ABM Industries had a net margin of 0.01% and a return on equity of 11.07%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $0.39 EPS. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, analysts expect that ABM Industries Incorporated will post 2.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Thursday, April 1st will be given a $0.19 dividend. The ex-dividend date is Wednesday, March 31st. This represents a $0.76 annualized dividend and a yield of 1.49%. ABM Industries’s dividend payout ratio (DPR) is presently 31.28%.
About ABM Industries
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.
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