State of New Jersey Common Pension Fund D Purchases 7,038 Shares of ABM Industries Incorporated (NYSE:ABM)

State of New Jersey Common Pension Fund D increased its position in shares of ABM Industries Incorporated (NYSE:ABM) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,291 shares of the business services provider’s stock after purchasing an additional 7,038 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of ABM Industries worth $2,748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of ABM Industries in the fourth quarter valued at about $25,000. Exchange Traded Concepts LLC acquired a new position in shares of ABM Industries during the 4th quarter worth approximately $48,000. Quantbot Technologies LP bought a new position in shares of ABM Industries during the third quarter worth approximately $151,000. Covestor Ltd raised its position in shares of ABM Industries by 50.7% in the third quarter. Covestor Ltd now owns 3,788 shares of the business services provider’s stock valued at $152,000 after buying an additional 1,275 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in ABM Industries by 114.6% during the third quarter. Daiwa Securities Group Inc. now owns 4,942 shares of the business services provider’s stock worth $198,000 after buying an additional 2,639 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.20.

Insider Buying and Selling at ABM Industries

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

ABM Industries Price Performance

Shares of ABM stock opened at $44.28 on Tuesday. The business has a fifty day simple moving average of $43.05 and a 200 day simple moving average of $42.46. The company has a market cap of $2.80 billion, a P/E ratio of 11.32 and a beta of 1.16. 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 Incorporated has a twelve month low of $37.61 and a twelve month high of $53.05.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, March 7th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.01 billion. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, sell-side analysts forecast that ABM Industries Incorporated will post 3.37 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Thursday, April 4th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a yield of 2.03%. ABM Industries’s dividend payout ratio (DPR) is 23.02%.

ABM Industries Company 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.