Daiwa Securities Group Inc. Raises Stake in ABM Industries Incorporated (NYSE:ABM)

Daiwa Securities Group Inc. grew its position in ABM Industries Incorporated (NYSE:ABM) by 60.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,636 shares of the business services provider’s stock after purchasing an additional 3,255 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ABM Industries were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ABM. Norges Bank bought a new stake in ABM Industries during the fourth quarter valued at about $31,310,000. Simplicity Wealth LLC purchased a new position in ABM Industries in the 1st quarter worth approximately $3,480,000. Dimensional Fund Advisors LP boosted its stake in ABM Industries by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,687,476 shares of the business services provider’s stock worth $210,141,000 after purchasing an additional 66,334 shares during the period. Trexquant Investment LP boosted its stake in ABM Industries by 437.3% in the 4th quarter. Trexquant Investment LP now owns 68,813 shares of the business services provider’s stock worth $3,085,000 after purchasing an additional 56,005 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in ABM Industries by 136.5% during the 4th quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock valued at $3,529,000 after buying an additional 45,442 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors.

ABM Industries Price Performance

NYSE:ABM opened at $50.55 on Friday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 13.23 and a beta of 1.16. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50 day simple moving average of $48.49 and a 200-day simple moving average of $44.73. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $53.05.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the company earned $0.90 earnings per share. ABM Industries’s revenue was up 1.7% on a year-over-year basis. Equities analysts forecast that ABM Industries Incorporated will post 3.47 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Friday, July 5th. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ABM shares. Robert W. Baird upped their target price on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, June 10th. StockNews.com upgraded ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Finally, UBS Group boosted their target price on ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.80.

Insiders Place Their Bets

In other news, EVP Andrea R. Newborn sold 12,615 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,063,115. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.04% of the stock is owned by insiders.

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.