Walleye Capital LLC Takes Position in ABM Industries Incorporated (NYSE:ABM)

Walleye Capital LLC purchased a new stake in ABM Industries Incorporated (NYSE:ABMGet Rating) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 4,651 shares of the business services provider’s stock, valued at approximately $202,000.

Several other large investors have also modified their holdings of the business. Nisa Investment Advisors LLC acquired a new position in ABM Industries during the 1st quarter valued at approximately $175,000. Mutual of America Capital Management LLC boosted its holdings in shares of ABM Industries by 5.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 9,700 shares of the business services provider’s stock valued at $447,000 after acquiring an additional 513 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of ABM Industries by 5.2% in the 1st quarter. Verdence Capital Advisors LLC now owns 8,373 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 415 shares during the last quarter. Versor Investments LP boosted its holdings in shares of ABM Industries by 33.8% in the 1st quarter. Versor Investments LP now owns 9,963 shares of the business services provider’s stock valued at $459,000 after acquiring an additional 2,519 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of ABM Industries by 5.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 119,798 shares of the business services provider’s stock valued at $5,516,000 after acquiring an additional 6,542 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ABM shares. TheStreet raised shares of ABM Industries from a “c+” rating to a “b-” rating in a report on Monday, August 15th. StockNews.com initiated coverage on shares of ABM Industries in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Robert W. Baird lowered their price target on shares of ABM Industries from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Monday, September 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.33.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $45.47 on Friday. The company’s fifty day moving average price is $41.98 and its 200 day moving average price is $43.88. ABM Industries Incorporated has a 1 year low of $37.68 and a 1 year high of $54.00. The company has a market capitalization of $3.01 billion, a PE ratio of 14.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21.

ABM Industries (NYSE:ABMGet Rating) last posted its quarterly earnings data on Friday, September 9th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.91 billion. ABM Industries had a net margin of 2.88% and a return on equity of 14.88%. The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. On average, research analysts predict that ABM Industries Incorporated will post 3.66 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Thursday, October 6th were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Wednesday, October 5th. ABM Industries’s dividend payout ratio is presently 24.53%.

Insiders Place Their Bets

In other ABM Industries news, CAO Dean A. Chin sold 2,521 shares of the company’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $43.00, for a total transaction of $108,403.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,994 shares in the company, valued at $902,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

ABM Industries Profile

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ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

Further Reading

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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