Intech Investment Management LLC Buys 28,122 Shares of ABM Industries Incorporated (NYSE:ABM)

Intech Investment Management LLC lifted its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 109.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,932 shares of the business services provider’s stock after purchasing an additional 28,122 shares during the quarter. Intech Investment Management LLC owned 0.09% of ABM Industries worth $2,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABM. Victory Capital Management Inc. grew its holdings in shares of ABM Industries by 279.4% during the 3rd quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock valued at $5,702,000 after purchasing an additional 79,587 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of ABM Industries during the 3rd quarter valued at approximately $1,982,000. Natixis Advisors LLC bought a new stake in shares of ABM Industries during the 3rd quarter valued at approximately $543,000. Quest Partners LLC grew its holdings in shares of ABM Industries by 54.7% during the 3rd quarter. Quest Partners LLC now owns 15,204 shares of the business services provider’s stock valued at $802,000 after purchasing an additional 5,379 shares during the last quarter. Finally, Pathstone Holdings LLC grew its holdings in ABM Industries by 3.0% during the 3rd quarter. Pathstone Holdings LLC now owns 84,591 shares of the business services provider’s stock worth $4,463,000 after acquiring an additional 2,448 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

ABM Industries Trading Up 0.9 %

ABM opened at $47.32 on Thursday. ABM Industries Incorporated has a fifty-two week low of $42.63 and a fifty-two week 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. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 37.26, a PEG ratio of 2.75 and a beta of 1.13. The company’s 50 day moving average price is $52.17 and its two-hundred day moving average price is $53.13.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.18 billion for 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 for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 EPS. As a group, research analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.24%. ABM Industries’s dividend payout ratio (DPR) is currently 84.13%.

Insider Transactions at ABM Industries

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

Analyst Upgrades and Downgrades

Separately, UBS Group reduced their target price on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th.

ABM Industries Company 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.