ABM Industries Incorporated (NYSE:ABM) Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 22.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 850,914 shares of the business services provider’s stock after buying an additional 156,450 shares during the period. Pzena Investment Management LLC owned approximately 1.37% of ABM Industries worth $43,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Foundry Partners LLC lifted its stake in shares of ABM Industries by 694.2% during the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock worth $4,583,000 after buying an additional 75,930 shares during the period. Miracle Mile Advisors LLC acquired a new position in ABM Industries during the fourth quarter valued at $392,000. Citigroup Inc. lifted its position in ABM Industries by 51.3% during the third quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock valued at $5,329,000 after purchasing an additional 34,254 shares during the period. Jane Street Group LLC lifted its position in ABM Industries by 91.8% during the third quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after purchasing an additional 39,300 shares during the period. Finally, Intech Investment Management LLC lifted its position in ABM Industries by 138.3% during the third quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock valued at $1,362,000 after purchasing an additional 14,977 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, UBS Group boosted their target price on shares of ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th.

ABM Industries Trading Down 6.2 %

NYSE ABM opened at $51.24 on Tuesday. The company has a fifty day moving average of $52.69 and a 200 day moving average of $53.57. The company has a market capitalization of $3.19 billion, a PE ratio of 40.35, a P/E/G ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a 1 year low of $41.51 and a 1 year high of $59.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Research analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Rene Jacobsen sold 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the sale, the chief operating officer now owns 87,808 shares of the company’s stock, valued at $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Dean A. Chin sold 4,281 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at $978,137.16. This represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

ABM Industries Profile

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.