Illinois Municipal Retirement Fund Sells 1,214 Shares of ABM Industries Incorporated (NYSE:ABM)

Illinois Municipal Retirement Fund cut its holdings in ABM Industries Incorporated (NYSE:ABM) by 3.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 36,965 shares of the business services provider’s stock after selling 1,214 shares during the period. Illinois Municipal Retirement Fund’s holdings in ABM Industries were worth $1,657,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Duality Advisers LP boosted its position in shares of ABM Industries by 2.7% in the 4th quarter. Duality Advisers LP now owns 24,810 shares of the business services provider’s stock worth $1,112,000 after purchasing an additional 649 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in ABM Industries by 8.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,381 shares of the business services provider’s stock worth $241,000 after buying an additional 439 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ABM Industries by 15.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,216 shares of the business services provider’s stock worth $637,000 after buying an additional 1,851 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of ABM Industries during the 4th quarter worth about $1,470,000. Finally, Violich Capital Management Inc. acquired a new stake in shares of ABM Industries in the 4th quarter valued at approximately $206,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Insider Transactions at ABM Industries

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

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Six research 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 company has a consensus rating of “Hold” and an average target price of $45.20.

ABM Industries Trading Down 0.7 %

NYSE:ABM opened at $44.04 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48. The business’s 50-day simple moving average is $42.90 and its 200-day simple moving average is $42.45. ABM Industries Incorporated has a fifty-two week low of $37.61 and a fifty-two week high of $53.05. The stock has a market capitalization of $2.79 billion, a PE ratio of 11.26 and a beta of 1.16.

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

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.04%. ABM Industries’s dividend payout ratio (DPR) is 23.02%.

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.