State of Alaska Department of Revenue raised its position in shares of ABM Industries Incorporated (NYSE:ABM) by 78.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,995 shares of the business services provider’s stock after buying an additional 4,835 shares during the period. State of Alaska Department of Revenue’s holdings in ABM Industries were worth $456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Independent Portfolio Consultants Inc. acquired a new position in ABM Industries during the second quarter worth $162,000. Seaward Management Limited Partnership purchased a new position in ABM Industries during the first quarter valued at approximately $218,000. Macquarie Group Ltd. raised its position in ABM Industries by 15.6% in the first quarter. Macquarie Group Ltd. now owns 747,218 shares of the business services provider’s stock valued at $32,579,000 after buying an additional 100,979 shares during the last quarter. HighTower Advisors LLC raised its position in ABM Industries by 5.6% in the first quarter. HighTower Advisors LLC now owns 27,959 shares of the business services provider’s stock valued at $1,220,000 after buying an additional 1,494 shares during the last quarter. Finally, Caldera Capital LLC raised its position in ABM Industries by 84.5% in the first quarter. Caldera Capital LLC now owns 27,535 shares of the business services provider’s stock valued at $1,201,000 after buying an additional 12,612 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Incorporated (NYSE ABM) traded down 0.56% during mid-day trading on Friday, hitting $42.94. The company had a trading volume of 165,273 shares. ABM Industries Incorporated has a 52-week low of $37.60 and a 52-week high of $45.12. The company has a 50-day moving average price of $43.33 and a 200 day moving average price of $42.48. The company has a market capitalization of $2.39 billion, a P/E ratio of 190.84 and a beta of 0.80.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, June 7th. The business services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the business posted $0.31 EPS. ABM Industries’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts forecast that ABM Industries Incorporated will post $1.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Thursday, July 6th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Monday, July 3rd. ABM Industries’s dividend payout ratio (DPR) is 283.33%.

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Several research analysts have commented on ABM shares. BidaskClub raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Robert W. Baird reaffirmed an “outperform” rating and set a $47.00 price objective (down from $49.00) on shares of ABM Industries in a research note on Thursday, July 13th. Zacks Investment Research raised shares of ABM Industries from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Monday, June 12th. Finally, Sidoti upgraded ABM Industries from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $55.00 in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $48.25.

In other ABM Industries news, SVP Dean A. Chin sold 632 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $44.95, for a total value of $28,408.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James P. Mcclure sold 1,970 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $40.87, for a total value of $80,513.90. The disclosure for this sale can be found here. Insiders have sold a total of 8,925 shares of company stock valued at $385,575 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

ABM Industries Company Profile

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.

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

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