Charles Schwab Investment Management Inc. Purchases 12,319 Shares of ABM Industries Incorporated (NYSE:ABM)

Charles Schwab Investment Management Inc. lifted its position in shares of ABM Industries Incorporated (NYSE:ABM) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 693,325 shares of the business services provider’s stock after acquiring an additional 12,319 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ABM Industries were worth $35,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABM. Foundry Partners LLC grew its stake in shares of ABM Industries by 694.2% during the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock worth $4,583,000 after purchasing an additional 75,930 shares during the period. Miracle Mile Advisors LLC acquired a new stake in shares of ABM Industries during the fourth quarter worth $392,000. Citigroup Inc. grew its stake in shares of ABM Industries by 51.3% during the third quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock worth $5,329,000 after purchasing an additional 34,254 shares during the period. Jane Street Group LLC grew its stake in shares of ABM Industries by 91.8% during the third quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock worth $4,331,000 after purchasing an additional 39,300 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of ABM Industries by 138.3% during the third quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock worth $1,362,000 after purchasing an additional 14,977 shares during the period. Institutional investors own 91.62% of the company’s stock.

Insider Transactions at ABM Industries

In other news, COO Rene Jacobsen sold 10,000 shares of the company’s stock in a transaction dated 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 directly owns 87,808 shares of the company’s stock, valued at $4,639,774.72. This represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was 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 of the company’s stock, valued at $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, UBS Group decreased their price objective on ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday.

ABM Industries Stock Down 0.6 %

NYSE:ABM opened at $46.76 on Monday. ABM Industries Incorporated has a 1 year low of $42.28 and a 1 year high of $59.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 2.75 and a beta of 1.13. The stock has a 50-day moving average price of $52.36 and a two-hundred day moving average price of $53.30.

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

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be paid a $0.265 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.27%. ABM Industries’s payout ratio is 83.46%.

About ABM Industries

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.