NFJ Investment Group LLC Sells 2,216 Shares of ABM Industries Incorporated (NYSE:ABM)

NFJ Investment Group LLC cut its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,014 shares of the business services provider’s stock after selling 2,216 shares during the quarter. NFJ Investment Group LLC owned approximately 0.14% of ABM Industries worth $4,302,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of ABM. Harvest Fund Management Co. Ltd bought a new position in shares of ABM Industries during the first quarter valued at $30,000. Bbva USA acquired a new stake in shares of ABM Industries in the second quarter valued at $44,000. Occudo Quantitative Strategies LP acquired a new stake in shares of ABM Industries in the first quarter valued at $206,000. Point72 Hong Kong Ltd acquired a new stake in shares of ABM Industries in the first quarter valued at $216,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of ABM Industries in the first quarter valued at $218,000. 92.14% of the stock is owned by institutional investors.

NYSE ABM opened at $44.81 on Friday. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 20.94 and a beta of 1.40. The stock’s 50 day moving average price is $46.88 and its two-hundred day moving average price is $48.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.41 and a current ratio of 1.45. ABM Industries Incorporated has a 52 week low of $33.51 and a 52 week high of $55.48.

ABM Industries (NYSE:ABM) last released its earnings results on Tuesday, September 7th. The business services provider reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.09. ABM Industries had a return on equity of 14.84% and a net margin of 2.41%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.51 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Thursday, October 7th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, October 6th. ABM Industries’s dividend payout ratio is 31.28%.

In related news, Director Art A. Garcia bought 1,600 shares of the business’s stock in a transaction dated Monday, September 13th. The stock was purchased at an average cost of $46.26 per share, for a total transaction of $74,016.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Rene Jacobsen sold 4,867 shares of the company’s stock in a transaction on Monday, July 19th. The shares were sold at an average price of $45.35, for a total value of $220,718.45. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

A number of analysts have recently weighed in on ABM shares. FIX upgraded ABM Industries to an “add” rating in a research note on Tuesday, June 29th. Zacks Investment Research upgraded ABM Industries from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, July 19th. Finally, Maxim Group reiterated a “hold” rating on shares of ABM Industries in a research report on Friday, August 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $52.67.

About ABM Industries

ABM Industries, Inc engages in the provision of facility services for commercial, industrial, and institutional buildings. It operates through the following segments: Business & Industry, Aviation, Technology & Manufacturing, Education, and Technical Solutions. The Business & Industry segment encompasses janitorial, facilities engineering, and parking services for commercial real estate properties and sports and entertainment venues.

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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