Harfst & Associates Inc. Invests $314,000 in ABM Industries Incorporated (ABM) Stock
Harfst & Associates Inc. bought a new position in shares of ABM Industries Incorporated (NYSE:ABM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,583 shares of the business services provider’s stock, valued at approximately $314,000.
A number of other institutional investors have also bought and sold shares of ABM. BlackRock Inc. increased its position in ABM Industries by 35,805.5% during the first quarter. BlackRock Inc. now owns 7,121,861 shares of the business services provider’s stock worth $310,513,000 after buying an additional 7,102,026 shares during the last quarter. State Street Corp grew its position in shares of ABM Industries by 236.6% in the first quarter. State Street Corp now owns 4,414,087 shares of the business services provider’s stock valued at $192,454,000 after purchasing an additional 3,102,800 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of ABM Industries in the second quarter valued at about $30,970,000. Systematic Financial Management LP grew its position in shares of ABM Industries by 1,079.2% in the second quarter. Systematic Financial Management LP now owns 455,594 shares of the business services provider’s stock valued at $18,916,000 after purchasing an additional 416,959 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of ABM Industries by 6.8% in the first quarter. Vanguard Group Inc. now owns 5,261,484 shares of the business services provider’s stock valued at $229,401,000 after purchasing an additional 333,410 shares during the last quarter. 78.22% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on ABM shares. Robert W. Baird set a $50.00 price target on ABM Industries and gave the company a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised ABM Industries from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Monday, July 17th. BidaskClub raised ABM Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Sidoti raised ABM Industries from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $55.00 in a research report on Thursday, July 13th. Finally, KeyCorp raised ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a research report on Monday, September 11th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.20.
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ABM Industries Incorporated (NYSE ABM) traded up 0.98% during midday trading on Friday, reaching $39.31. The company had a trading volume of 407,347 shares. The stock’s 50 day moving average price is $42.97 and its 200-day moving average price is $42.74. The firm has a market capitalization of $2.56 billion, a P/E ratio of 153.55 and a beta of 0.79. ABM Industries Incorporated has a one year low of $37.12 and a one year high of $45.12.
ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Wednesday, September 6th. The business services provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). ABM Industries had a net margin of 0.29% and a return on equity of 11.37%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts anticipate that ABM Industries Incorporated will post $1.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Thursday, October 5th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.73%. ABM Industries’s dividend payout ratio (DPR) is currently 251.86%.
In related news, SVP Dean A. Chin sold 632 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total value of $28,408.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James P. Mcclure sold 1,970 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $40.87, for a total transaction of $80,513.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,099 shares of company stock worth $699,995. 1.30% of the stock is owned by company insiders.
ABM Industries 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.
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