Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in ABM Industries Incorporated (NYSE:ABM)

Mitsubishi UFJ Trust & Banking Corp reduced its position in ABM Industries Incorporated (NYSE:ABMGet Rating) by 39.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,699 shares of the business services provider’s stock after selling 3,693 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in ABM Industries were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABM. State Street Corp grew its position in ABM Industries by 19.3% during the 1st quarter. State Street Corp now owns 7,059,579 shares of the business services provider’s stock worth $325,023,000 after acquiring an additional 1,140,097 shares during the last quarter. Victory Capital Management Inc. grew its position in ABM Industries by 72.1% during the 2nd quarter. Victory Capital Management Inc. now owns 2,716,067 shares of the business services provider’s stock worth $117,932,000 after acquiring an additional 1,137,941 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in ABM Industries during the 1st quarter worth approximately $22,504,000. Goldman Sachs Group Inc. grew its position in ABM Industries by 76.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 308,207 shares of the business services provider’s stock worth $14,190,000 after acquiring an additional 133,283 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in ABM Industries by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,173,144 shares of the business services provider’s stock worth $192,131,000 after acquiring an additional 79,437 shares during the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABM. TheStreet upgraded ABM Industries from a “c+” rating to a “b-” rating in a research report on Monday, August 15th. StockNews.com began coverage on ABM Industries in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Robert W. Baird cut their price objective on ABM Industries from $53.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday, September 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.33.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, CAO Dean A. Chin sold 2,521 shares of ABM Industries stock in a transaction on Tuesday, October 25th. The stock was 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 owns 20,994 shares in the company, valued at $902,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by company insiders.

ABM Industries Trading Down 0.9 %

ABM opened at $45.30 on Thursday. The stock has a market cap of $3.00 billion, a PE ratio of 14.25 and a beta of 1.13. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average of $42.17 and a 200-day moving average of $43.85. ABM Industries Incorporated has a 52 week low of $37.68 and a 52 week high of $54.00.

ABM Industries (NYSE:ABMGet Rating) last released its earnings results on Friday, September 9th. The business services provider reported $0.94 EPS for the quarter, beating 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 return on equity of 14.88% and a net margin of 2.88%. The firm’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. Equities research analysts predict that ABM Industries Incorporated will post 3.66 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Thursday, October 6th were paid 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 of this dividend was Wednesday, October 5th. ABM Industries’s payout ratio is 24.53%.

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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