Bleakley Financial Group LLC Purchases 1,183 Shares of ABM Industries Incorporated (NYSE:ABM)

Bleakley Financial Group LLC increased its position in ABM Industries Incorporated (NYSE:ABM) by 17.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,779 shares of the business services provider’s stock after purchasing an additional 1,183 shares during the period. Bleakley Financial Group LLC’s holdings in ABM Industries were worth $398,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ABM. Capital Performance Advisors LLP bought a new position in ABM Industries during the 3rd quarter valued at $30,000. Copeland Capital Management LLC bought a new position in shares of ABM Industries during the third quarter valued at about $37,000. Adirondack Trust Co. boosted its holdings in ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC grew its position in ABM Industries by 58.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock worth $84,000 after purchasing an additional 589 shares in the last quarter. Finally, Quarry LP increased its stake in ABM Industries by 49.7% in the 3rd 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 last quarter. 91.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the transaction, the chief accounting officer now owns 18,681 shares in the company, valued at $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.04% of the company’s stock.

ABM Industries Stock Performance

NYSE ABM opened at $53.53 on Tuesday. The company has a market capitalization of $3.33 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 2.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78. The company has a 50-day simple moving average of $53.05 and a 200 day simple moving average of $53.67.

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

ABM Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd were given a $0.265 dividend. This is a positive change 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 yield of 1.98%. ABM Industries’s payout ratio is currently 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.