Royce & Associates LP Has $29.65 Million Position in ABM Industries, Inc. (ABM)
Royce & Associates LP reduced its position in shares of ABM Industries, Inc. (NYSE:ABM) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 679,960 shares of the business services provider’s stock after selling 31,000 shares during the period. Royce & Associates LP’s holdings in ABM Industries were worth $29,646,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in ABM Industries during the fourth quarter worth approximately $26,617,000. FMR LLC bought a new stake in shares of ABM Industries during the fourth quarter valued at about $19,696,000. Aberdeen Asset Management PLC UK raised its stake in shares of ABM Industries by 56.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 938,843 shares of the business services provider’s stock valued at $38,343,000 after buying an additional 337,722 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of ABM Industries by 332.4% in the first quarter. Teachers Advisors LLC now owns 407,119 shares of the business services provider’s stock valued at $17,750,000 after buying an additional 312,972 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of ABM Industries by 23.8% in the fourth quarter. Macquarie Group Ltd. now owns 646,239 shares of the business services provider’s stock valued at $26,392,000 after buying an additional 124,143 shares during the last quarter. Institutional investors own 89.88% of the company’s stock.
Shares of ABM Industries, Inc. (NYSE:ABM) traded down 1.36% on Monday, hitting $43.68. 263,120 shares of the company traded hands. ABM Industries, Inc. has a 1-year low of $33.99 and a 1-year high of $45.03. The firm’s 50 day moving average price is $42.80 and its 200-day moving average price is $41.99. The stock’s market capitalization is $2.43 billion.
ABM Industries (NYSE:ABM) last posted its earnings results on Tuesday, March 7th. The business services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. ABM Industries had a return on equity of 6.86% and a net margin of 1.21%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. On average, equities research analysts expect that ABM Industries, Inc. will post $1.91 earnings per share for the current year.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Robert W. Baird set a $50.00 price target on shares of ABM Industries and gave the stock a “buy” rating in a research note on Wednesday, May 31st.
In related news, insider James P. Mcclure sold 1,970 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $44.40, for a total value of $87,468.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rene Jacobsen sold 950 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $43.10, for a total value of $40,945.00. Following the completion of the sale, the insider now owns 16,594 shares of the company’s stock, valued at $715,201.40. The disclosure for this sale can be found here. Insiders have sold a total of 20,761 shares of company stock valued at $895,504 over the last quarter. Corporate insiders own 1.30% of the company’s stock.
About ABM Industries
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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