New York State Teachers Retirement System cut its stake in ABM Industries Incorporated (NYSE:ABM) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,756 shares of the business services provider’s stock after selling 2,500 shares during the period. New York State Teachers Retirement System owned approximately 0.23% of ABM Industries worth $6,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ABM Industries by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,629 shares of the business services provider’s stock worth $109,000 after purchasing an additional 229 shares during the period. Riverhead Capital Management LLC boosted its stake in ABM Industries by 60.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock worth $146,000 after purchasing an additional 1,328 shares during the period. Hillsdale Investment Management Inc. boosted its stake in ABM Industries by 12,666.7% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,830 shares of the business services provider’s stock worth $159,000 after purchasing an additional 3,800 shares during the period. Bruderman Asset Management LLC acquired a new position in ABM Industries in the 2nd quarter worth $164,000. Finally, PNC Financial Services Group Inc. boosted its stake in ABM Industries by 6.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the business services provider’s stock worth $167,000 after purchasing an additional 236 shares during the period. 86.05% of the stock is owned by hedge funds and other institutional investors.

ABM has been the subject of a number of recent research reports. BidaskClub upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Monday, July 17th. Robert W. Baird set a $47.00 price objective on shares of ABM Industries and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, KeyCorp upgraded shares of ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price objective for the company in a research note on Monday, September 11th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $48.20.

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ABM Industries Incorporated (ABM) opened at $40.26 on Friday. ABM Industries Incorporated has a one year low of $37.12 and a one year high of $45.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market cap of $2,606.41, a PE ratio of 21.17 and a beta of 0.81.

ABM Industries (NYSE:ABM) last issued its earnings results on Wednesday, September 6th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. research analysts anticipate that ABM Industries Incorporated will post 1.85 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Thursday, October 5th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $0.68 annualized dividend and a yield of 1.69%. ABM Industries’s dividend payout ratio (DPR) is currently 251.86%.

In related news, SVP Dean A. Chin sold 880 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $42.90, for a total value of $37,752.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott J. Giacobbe sold 11,094 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were 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 of the company’s stock, valued at $2,361,347.84. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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)

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