Goldman Sachs Group Inc. decreased its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,774,816 shares of the business services provider’s stock after selling 148,566 shares during the quarter. Goldman Sachs Group Inc. owned about 3.18% of ABM Industries worth $73,691,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its stake in ABM Industries by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the business services provider’s stock valued at $943,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System boosted its stake in ABM Industries by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 29,038 shares of the business services provider’s stock valued at $1,206,000 after purchasing an additional 100 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in ABM Industries by 0.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 25,870 shares of the business services provider’s stock valued at $1,127,000 after purchasing an additional 170 shares during the period. Amalgamated Bank boosted its stake in ABM Industries by 2.6% during the 2nd quarter. Amalgamated Bank now owns 7,743 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 196 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in ABM Industries by 4.9% during the 1st quarter. Victory Capital Management Inc. now owns 4,427 shares of the business services provider’s stock valued at $193,000 after purchasing an additional 206 shares during the period. Hedge funds and other institutional investors own 78.22% of the company’s stock.

Several brokerages recently weighed in on ABM. KeyCorp upgraded ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Monday, September 11th. BidaskClub upgraded ABM Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Robert W. Baird set a $47.00 target price on ABM Industries and gave the company a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Sidoti upgraded ABM Industries from a “neutral” rating to a “buy” rating and increased their target price for the company from $49.00 to $55.00 in a research note on Thursday, July 13th. One investment 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 stock. The company currently has an average rating of “Buy” and a consensus price target of $48.20.

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Shares of ABM Industries Incorporated (NYSE ABM) opened at 43.13 on Thursday. The company’s 50-day moving average price is $41.92 and its 200 day moving average price is $42.59. ABM Industries Incorporated has a 52 week low of $37.12 and a 52 week high of $45.12. The company has a market cap of $2.81 billion, a P/E ratio of 168.48 and a beta of 0.80.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Wednesday, September 6th. The business services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts forecast that ABM Industries Incorporated will post $1.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Thursday, October 5th will be 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 is Wednesday, October 4th. ABM Industries’s payout ratio is currently 251.86%.

In other news, insider Scott J. Giacobbe sold 11,094 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $39.92, for a total transaction of $442,872.48. Following the completion of the sale, the insider now owns 59,152 shares in the company, valued at $2,361,347.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Dean A. Chin sold 632 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $44.95, for a total value of $28,408.40. The disclosure for this sale can be found here. Insiders have sold 15,129 shares of company stock valued at $619,481 in the last quarter. 1.30% of the stock is currently owned by corporate 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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