Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 5,000 Shares of ABM Industries Incorporated (NYSE:ABM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 62.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the business services provider’s stock after selling 5,000 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in ABM Industries were worth $122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new position in shares of ABM Industries during the 4th quarter worth $48,000. Quantbot Technologies LP bought a new stake in shares of ABM Industries in the 3rd quarter valued at about $151,000. Covestor Ltd grew its position in shares of ABM Industries by 50.7% in the 3rd quarter. Covestor Ltd now owns 3,788 shares of the business services provider’s stock valued at $152,000 after buying an additional 1,275 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of ABM Industries by 114.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,942 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 2,639 shares in the last quarter. Finally, Violich Capital Management Inc. bought a new stake in shares of ABM Industries during the 4th quarter valued at about $206,000. 91.62% of the stock is currently owned by institutional investors.

Insider Transactions at ABM Industries

In other news, CAO Dean A. Chin sold 5,465 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the sale, the chief accounting officer now directly owns 19,972 shares of the company’s stock, valued at $896,543.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Rene Jacobsen sold 5,563 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total transaction of $242,491.17. Following the completion of the sale, the chief operating officer now directly owns 111,677 shares of the company’s stock, valued at $4,868,000.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now directly owns 19,972 shares of the company’s stock, valued at $896,543.08. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.20.

ABM Industries Stock Up 0.4 %

Shares of NYSE:ABM opened at $44.65 on Wednesday. The business’s 50 day simple moving average is $42.67 and its two-hundred day simple moving average is $42.40. The firm has a market cap of $2.83 billion, a P/E ratio of 11.42 and a beta of 1.16. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48. ABM Industries Incorporated has a 52-week low of $37.61 and a 52-week high of $53.05.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.14. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.01 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. As a group, research analysts forecast that ABM Industries Incorporated will post 3.37 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 23.02%.

ABM Industries Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.