ABM Industries Incorporated (NYSE:ABM) Shares Acquired by Duality Advisers LP

Duality Advisers LP raised its position in ABM Industries Incorporated (NYSE:ABM) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,810 shares of the business services provider’s stock after buying an additional 649 shares during the period. Duality Advisers LP’s holdings in ABM Industries were worth $1,112,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Exchange Traded Concepts LLC purchased a new position in ABM Industries in the fourth quarter valued at about $48,000. Quantbot Technologies LP bought a new stake in shares of ABM Industries in the third quarter worth $151,000. Covestor Ltd raised its holdings in ABM Industries by 50.7% in the third quarter. Covestor Ltd now owns 3,788 shares of the business services provider’s stock valued at $152,000 after acquiring an additional 1,275 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in ABM Industries by 114.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,942 shares of the business services provider’s stock valued at $198,000 after acquiring an additional 2,639 shares during the last quarter. Finally, Violich Capital Management Inc. acquired a new position in ABM Industries during the 4th quarter worth $206,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $43.59, for a total transaction of $242,491.17. Following the completion of the transaction, the chief operating officer now directly owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Dean A. Chin sold 5,465 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the transaction, the chief accounting officer now owns 19,972 shares in the company, valued at approximately $896,543.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rene Jacobsen sold 5,563 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $43.59, for a total transaction of $242,491.17. Following the sale, the chief operating officer now owns 111,677 shares in the company, valued at $4,868,000.43. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.20.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $44.65 on Wednesday. The company has a market cap of $2.83 billion, a PE ratio of 11.42 and a beta of 1.16. ABM Industries Incorporated has a fifty-two week low of $37.61 and a fifty-two week high of $53.05. The firm has a 50-day simple moving average of $42.67 and a 200 day simple moving average of $42.40. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, March 7th. The business services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.72 by $0.14. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.01 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. On average, sell-side analysts anticipate that ABM Industries Incorporated will post 3.37 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a dividend yield of 2.02%. ABM Industries’s dividend payout ratio is currently 23.02%.

About ABM Industries

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.