Bleakley Financial Group LLC Acquires 3,999 Shares of ABM Industries Incorporated (NYSE:ABM)

Bleakley Financial Group LLC increased its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 5.4% during the first quarter, HoldingsChannel.com reports. The fund owned 78,223 shares of the business services provider’s stock after buying an additional 3,999 shares during the quarter. Bleakley Financial Group LLC’s holdings in ABM Industries were worth $3,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. BNP Paribas Arbitrage SNC lifted its holdings in ABM Industries by 118.4% during the first quarter. BNP Paribas Arbitrage SNC now owns 46,674 shares of the business services provider’s stock worth $2,098,000 after acquiring an additional 25,308 shares during the period. Bank of America Corp DE lifted its holdings in ABM Industries by 14.0% during the first quarter. Bank of America Corp DE now owns 676,371 shares of the business services provider’s stock worth $30,396,000 after acquiring an additional 83,288 shares during the period. Inceptionr LLC bought a new stake in ABM Industries during the first quarter worth $893,000. UBS Group AG lifted its holdings in ABM Industries by 16.2% during the first quarter. UBS Group AG now owns 71,660 shares of the business services provider’s stock worth $3,220,000 after acquiring an additional 10,005 shares during the period. Finally, Sei Investments Co. increased its position in ABM Industries by 67.3% in the first quarter. Sei Investments Co. now owns 55,500 shares of the business services provider’s stock worth $2,494,000 after buying an additional 22,329 shares during the last quarter. 86.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ABM shares. StockNews.com started coverage on ABM Industries in a research report on Thursday, August 17th. They issued a “hold” rating for the company. UBS Group started coverage on ABM Industries in a research report on Wednesday, May 31st. They issued a “neutral” rating and a $48.00 target price for the company.

ABM Industries Stock Performance

Shares of NYSE ABM traded down $6.58 during mid-day trading on Thursday, hitting $38.23. The company had a trading volume of 215,391 shares, compared to its average volume of 377,874. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 13.27 and a beta of 1.07. ABM Industries Incorporated has a 1 year low of $37.68 and a 1 year high of $49.58. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average price is $44.47 and its 200-day moving average price is $44.32.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Tuesday, June 6th. The business services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2 billion. ABM Industries had a return on equity of 13.63% and a net margin of 2.47%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. On average, sell-side analysts forecast that ABM Industries Incorporated will post 3.51 earnings per share for the current year.

About ABM Industries

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. The company operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.