SRS Capital Advisors Inc. Acquires 511 Shares of ABM Industries Incorporated (NYSE:ABM)

SRS Capital Advisors Inc. grew its holdings in ABM Industries Incorporated (NYSE:ABM) by 323.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 669 shares of the business services provider’s stock after buying an additional 511 shares during the quarter. SRS Capital Advisors Inc.’s holdings in ABM Industries were worth $30,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Arizona State Retirement System increased its position in ABM Industries by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 18,833 shares of the business services provider’s stock valued at $754,000 after purchasing an additional 265 shares during the period. Inspire Investing LLC boosted its position in ABM Industries by 3.9% during the 3rd quarter. Inspire Investing LLC now owns 7,692 shares of the business services provider’s stock valued at $308,000 after acquiring an additional 286 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of ABM Industries by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,811 shares of the business services provider’s stock worth $313,000 after acquiring an additional 334 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of ABM Industries by 8.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,381 shares of the business services provider’s stock valued at $241,000 after purchasing an additional 439 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of ABM Industries by 4.8% during the third quarter. Hsbc Holdings PLC now owns 13,445 shares of the business services provider’s stock valued at $538,000 after purchasing an additional 616 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors.

ABM Industries Trading Down 0.2 %

NYSE:ABM opened at $44.77 on Monday. ABM Industries Incorporated has a 52 week low of $37.61 and a 52 week high of $53.05. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 11.45 and a beta of 1.14. The company’s 50 day moving average price is $43.38 and its 200-day moving average price is $42.49. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71.

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

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s dividend payout ratio is currently 23.02%.

Insider Buying and Selling at ABM Industries

In related news, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the completion of the sale, the chief accounting officer now owns 19,972 shares in the company, valued at $896,543.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 completion of the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the transaction, the chief accounting officer now directly owns 19,972 shares in the company, valued at $896,543.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,643 shares of company stock worth $1,055,490. Insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.20.

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.