ABM Industries Incorporated (NYSE:ABM) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,409 shares of the business services provider’s stock after purchasing an additional 1,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in ABM Industries were worth $737,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in ABM Industries during the 3rd quarter valued at approximately $30,000. Adirondack Trust Co. grew its stake in ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 200 shares in the last quarter. Quarry LP grew its stake in ABM Industries by 49.7% during the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock valued at $115,000 after purchasing an additional 721 shares in the last quarter. KBC Group NV grew its stake in ABM Industries by 60.9% during the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in ABM Industries during the 3rd quarter valued at approximately $210,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Insider Buying and Selling

In other news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction 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 transaction, the chief operating officer now directly owns 87,808 shares in the company, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $224,153.16. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group increased their target price on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th.

ABM Industries Trading Up 0.5 %

NYSE:ABM opened at $54.22 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $52.40 and its two-hundred day moving average is $53.60. ABM Industries Incorporated has a 52 week low of $40.50 and a 52 week high of $59.78. The company has a market cap of $3.37 billion, a PE ratio of 42.69, a P/E/G ratio of 2.75 and a beta of 1.16.

ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. ABM Industries’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. On average, analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 2nd were issued a $0.265 dividend. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.06 annualized dividend and a dividend yield of 1.96%. ABM Industries’s dividend payout ratio (DPR) is 83.46%.

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.