Intech Investment Management LLC Purchases 28,122 Shares of ABM Industries Incorporated (NYSE:ABM)

Intech Investment Management LLC lifted its position in ABM Industries Incorporated (NYSE:ABM) by 109.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,932 shares of the business services provider’s stock after acquiring an additional 28,122 shares during the quarter. Intech Investment Management LLC’s holdings in ABM Industries were worth $2,760,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABM. SBI Securities Co. Ltd. bought a new stake in shares of ABM Industries in the 4th quarter worth $33,000. Adirondack Trust Co. grew its position in ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after buying an additional 200 shares during the period. Smartleaf Asset Management LLC grew its position in ABM Industries by 193.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after buying an additional 595 shares during the period. Quarry LP grew its position in ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock valued at $115,000 after buying an additional 721 shares during the period. Finally, KBC Group NV grew its position in ABM Industries by 60.9% during the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock valued at $144,000 after buying an additional 1,067 shares during the period. Institutional investors own 91.62% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group reduced their price target on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th.

Insider Buying and Selling at ABM Industries

In other news, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the transaction, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. 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 4,281 shares of ABM Industries stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total transaction of $224,153.16. Following the completion of the sale, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

ABM Industries Trading Up 0.9 %

Shares of ABM opened at $47.32 on Thursday. The firm’s 50 day simple moving average is $52.17 and its 200 day simple moving average is $53.13. The company has a market capitalization of $2.94 billion, a P/E ratio of 37.26, a P/E/G ratio of 2.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. ABM Industries Incorporated has a 1-year low of $42.63 and a 1-year high of $59.78.

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

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries’s payout ratio is currently 84.13%.

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.