Comerica Bank boosted its holdings in shares of ABM Industries (NYSE:ABM) by 108.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,143 shares of the business services provider’s stock after buying an additional 63,043 shares during the period. Comerica Bank’s holdings in ABM Industries were worth $3,904,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Meadow Creek Investment Management LLC raised its holdings in ABM Industries by 22.8% during the fourth quarter. Meadow Creek Investment Management LLC now owns 7,700 shares of the business services provider’s stock worth $291,000 after buying an additional 1,428 shares during the last quarter. Geode Capital Management LLC raised its holdings in ABM Industries by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 465,438 shares of the business services provider’s stock worth $17,556,000 after buying an additional 1,558 shares during the last quarter. Burney Co. raised its holdings in ABM Industries by 25.5% during the fourth quarter. Burney Co. now owns 8,629 shares of the business services provider’s stock worth $325,000 after buying an additional 1,754 shares during the last quarter. NJ State Employees Deferred Compensation Plan raised its holdings in ABM Industries by 10.0% during the first quarter. NJ State Employees Deferred Compensation Plan now owns 22,000 shares of the business services provider’s stock worth $737,000 after buying an additional 2,000 shares during the last quarter. Finally, Baker Ellis Asset Management LLC raised its holdings in ABM Industries by 13.6% during the fourth quarter. Baker Ellis Asset Management LLC now owns 16,875 shares of the business services provider’s stock worth $637,000 after buying an additional 2,025 shares during the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.
ABM has been the topic of several research reports. Robert W. Baird set a $40.00 price objective on shares of ABM Industries and gave the stock a “buy” rating in a report on Saturday, March 17th. Zacks Investment Research upgraded shares of ABM Industries from a “strong sell” rating to a “hold” rating and set a $44.00 price objective on the stock in a report on Monday, January 22nd. Finally, ValuEngine downgraded shares of ABM Industries from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $45.75.
ABM Industries (NYSE:ABM) last announced its earnings results on Tuesday, March 6th. The business services provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. ABM Industries had a net margin of 1.55% and a return on equity of 8.33%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. equities research analysts anticipate that ABM Industries will post 1.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 7th. Stockholders of record on Thursday, April 5th were issued a $0.175 dividend. The ex-dividend date was Wednesday, April 4th. This represents a $0.70 annualized dividend and a dividend yield of 2.33%. ABM Industries’s dividend payout ratio is currently 40.00%.
ABM Industries Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.
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