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.

COPYRIGHT VIOLATION WARNING: This news story was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/23/harfst-associates-inc-invests-314000-in-abm-industries-incorporated-abm-stock.html.

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.

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

Receive News & Stock Ratings for ABM Industries Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries Incorporated and related stocks with our FREE daily email newsletter.