ABM Industries Incorporated (ABM) Position Trimmed by Goldman Sachs Group Inc.
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.
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