Pzena Investment Management LLC Grows Stake in ABM Industries Incorporated (NYSE:ABM)

Pzena Investment Management LLC boosted its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 22.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 850,914 shares of the business services provider’s stock after acquiring an additional 156,450 shares during the period. Pzena Investment Management LLC’s holdings in ABM Industries were worth $43,550,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in ABM Industries by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider’s stock valued at $76,582,000 after acquiring an additional 7,050 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ABM Industries by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 693,325 shares of the business services provider’s stock valued at $35,484,000 after acquiring an additional 12,319 shares in the last quarter. Principal Financial Group Inc. grew its stake in ABM Industries by 4.3% during the 4th quarter. Principal Financial Group Inc. now owns 341,616 shares of the business services provider’s stock valued at $17,484,000 after acquiring an additional 13,985 shares in the last quarter. Rhumbline Advisers grew its stake in ABM Industries by 1.3% during the 4th quarter. Rhumbline Advisers now owns 198,756 shares of the business services provider’s stock valued at $10,172,000 after acquiring an additional 2,517 shares in the last quarter. Finally, Olstein Capital Management L.P. grew its stake in ABM Industries by 3.6% during the 4th quarter. Olstein Capital Management L.P. now owns 195,821 shares of the business services provider’s stock valued at $10,022,000 after acquiring an additional 6,821 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

NYSE:ABM opened at $51.24 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 2.75 and a beta of 1.13. The company’s 50-day moving average is $52.69 and its two-hundred day moving average is $53.57. ABM Industries Incorporated has a 1-year low of $41.51 and a 1-year high of $59.78.

ABM Industries (NYSE:ABM) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. ABM Industries’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS. Analysts forecast that ABM Industries Incorporated will post 3.71 EPS for the current year.

Insider Buying and Selling at ABM Industries

In other news, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the transaction, the chief accounting officer now directly owns 18,681 shares in the company, valued at approximately $978,137.16. This represents a 18.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Rene Jacobsen sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the transaction, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, UBS Group upped their price objective on shares of ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th.

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.