Citigroup Inc. Purchases 7,841 Shares of ABM Industries Incorporated (NYSE:ABM)

Citigroup Inc. increased its stake in shares of ABM Industries Incorporated (NYSE:ABM – Get Rating) by 23.3% during the fourth quarter, HoldingsChannel reports. The fund owned 41,428 shares of the business services provider’s stock after buying an additional 7,841 shares during the period. Citigroup Inc.’s holdings in ABM Industries were worth $1,840,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABM. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of ABM Industries during the first quarter worth $284,000. Bank of Montreal Can raised its holdings in shares of ABM Industries by 2.2% during the first quarter. Bank of Montreal Can now owns 21,837 shares of the business services provider’s stock worth $1,000,000 after acquiring an additional 473 shares during the period. MetLife Investment Management LLC raised its holdings in shares of ABM Industries by 53.8% during the first quarter. MetLife Investment Management LLC now owns 35,527 shares of the business services provider’s stock worth $1,636,000 after acquiring an additional 12,425 shares during the period. Rhumbline Advisers raised its holdings in shares of ABM Industries by 2.2% during the first quarter. Rhumbline Advisers now owns 193,026 shares of the business services provider’s stock worth $8,887,000 after acquiring an additional 4,196 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of ABM Industries by 2.1% during the first quarter. Great West Life Assurance Co. Can now owns 60,453 shares of the business services provider’s stock worth $2,860,000 after acquiring an additional 1,246 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABM. Robert W. Baird lowered shares of ABM Industries from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $52.00 to $51.00 in a report on Thursday, March 9th. StockNews.com initiated coverage on shares of ABM Industries in a research note on Thursday, May 18th. They issued a “hold” rating on the stock.

Insider Transactions at ABM Industries

In other news, CEO Scott B. Salmirs sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $45.07, for a total transaction of $135,210.00. Following the transaction, the chief executive officer now directly owns 371,743 shares in the company, valued at approximately $16,754,457.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is owned by company insiders.

ABM Industries Stock Up 0.7 %

Shares of ABM stock opened at $43.08 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. ABM Industries Incorporated has a 1 year low of $37.68 and a 1 year high of $50.47. The firm’s fifty day moving average price is $43.26 and its two-hundred day moving average price is $45.06. The firm has a market capitalization of $2.85 billion, a P/E ratio of 14.96 and a beta of 1.09.

ABM Industries (NYSE:ABM – Get Rating) last issued its quarterly earnings results on Wednesday, March 8th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.02. ABM Industries had a net margin of 2.45% and a return on equity of 13.85%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business earned $0.94 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that ABM Industries Incorporated will post 3.5 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Thursday, April 6th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, April 5th. This represents a $0.88 annualized dividend and a dividend yield of 2.04%. ABM Industries’s dividend payout ratio is presently 30.56%.

ABM Industries Company Profile

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ABM Industries, Inc engages in the provision of facility, infrastructure, and mobility solutions. It operates through the following segments: Business and Industry, Manufacturing and Distribution, Education, Aviation, and Technical Solutions. The Business and Industry segment encompasses janitorial, facilities engineering, and parking services for commercial real estate properties, sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities.