ABM Industries Incorporated (NYSE:ABM) Stake Reduced by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,965 shares of the business services provider’s stock after selling 1,214 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of ABM Industries worth $1,657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ABM. Copeland Capital Management LLC lifted its stake in ABM Industries by 0.9% during the third quarter. Copeland Capital Management LLC now owns 1,382,639 shares of the business services provider’s stock valued at $55,319,000 after purchasing an additional 12,280 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of ABM Industries by 20.6% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,262,155 shares of the business services provider’s stock worth $50,499,000 after acquiring an additional 215,795 shares in the last quarter. Invesco Ltd. boosted its stake in shares of ABM Industries by 5.4% during the 3rd quarter. Invesco Ltd. now owns 1,033,051 shares of the business services provider’s stock worth $41,332,000 after acquiring an additional 53,318 shares in the last quarter. Northern Trust Corp grew its holdings in shares of ABM Industries by 1.1% in the 3rd quarter. Northern Trust Corp now owns 932,847 shares of the business services provider’s stock worth $37,323,000 after acquiring an additional 10,020 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ABM Industries by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 611,698 shares of the business services provider’s stock worth $24,474,000 after purchasing an additional 15,976 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of ABM Industries stock in a transaction on Monday, March 25th. The shares were sold at an average price of $43.59, for a total transaction of $242,491.17. Following the completion of the sale, the chief operating officer now owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the transaction, the chief operating officer now directly owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Dean A. Chin sold 5,465 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now directly owns 19,972 shares of the company’s stock, valued at $896,543.08. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, ABM Industries has a consensus rating of “Hold” and a consensus target price of $45.20.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $44.04 on Friday. The company’s fifty day moving average is $42.90 and its two-hundred day moving average is $42.45. The company has a market cap of $2.79 billion, a P/E ratio of 11.26 and a beta of 1.16. ABM Industries Incorporated has a 12-month low of $37.61 and a 12-month high of $53.05. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the firm earned $0.79 earnings per share. ABM Industries’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts expect that ABM Industries Incorporated will post 3.37 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s payout ratio is presently 23.02%.

ABM Industries 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.