Quadrature Capital Ltd Sells 16,555 Shares of ABM Industries Incorporated (NYSE:ABM)

Quadrature Capital Ltd reduced its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 43.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,435 shares of the business services provider’s stock after selling 16,555 shares during the quarter. Quadrature Capital Ltd’s holdings in ABM Industries were worth $957,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in shares of ABM Industries by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,687,476 shares of the business services provider’s stock worth $210,141,000 after buying an additional 66,334 shares during the last quarter. Norges Bank bought a new position in ABM Industries in the 4th quarter valued at about $31,310,000. Charles Schwab Investment Management Inc. lifted its position in ABM Industries by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 634,363 shares of the business services provider’s stock worth $28,438,000 after acquiring an additional 22,665 shares during the last quarter. LSV Asset Management bought a new stake in shares of ABM Industries during the first quarter worth approximately $17,645,000. Finally, Olstein Capital Management L.P. grew its position in shares of ABM Industries by 18.3% in the first quarter. Olstein Capital Management L.P. now owns 289,953 shares of the business services provider’s stock valued at $12,938,000 after purchasing an additional 44,953 shares during the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Price Performance

NYSE:ABM traded up $0.47 during mid-day trading on Friday, reaching $55.08. The stock had a trading volume of 426,196 shares, compared to its average volume of 495,942. The stock has a 50-day simple moving average of $50.25 and a two-hundred day simple moving average of $45.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.44. ABM Industries Incorporated has a 12 month low of $37.61 and a 12 month high of $56.02. The stock has a market capitalization of $3.46 billion, a PE ratio of 14.42 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. ABM Industries’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, equities analysts anticipate that ABM Industries Incorporated will post 3.46 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, July 5th. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Insider Buying and Selling

In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total transaction of $567,675.00. Following the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,063,115. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Scott B. Salmirs sold 11,736 shares of ABM Industries stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total transaction of $646,418.88. Following the sale, the chief executive officer now directly owns 366,655 shares in the company, valued at approximately $20,195,357.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrea R. Newborn sold 12,615 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total transaction of $567,675.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,063,115. The disclosure for this sale can be found here. Insiders sold a total of 91,393 shares of company stock worth $4,606,923 in the last three months. 1.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ABM. UBS Group lifted their target price on ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. StockNews.com upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Finally, Robert W. Baird raised their target price on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.80.

ABM Industries Company 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.