State Board of Administration of Florida Retirement System Sells 680 Shares of ABM Industries Incorporated (NYSE:ABM)

State Board of Administration of Florida Retirement System lowered its position in ABM Industries Incorporated (NYSE:ABMGet Rating) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,392 shares of the business services provider’s stock after selling 680 shares during the period. State Board of Administration of Florida Retirement System’s holdings in ABM Industries were worth $1,146,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Pinebridge Investments L.P. lifted its stake in ABM Industries by 487.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 587 shares of the business services provider’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. Operose Advisors LLC purchased a new stake in ABM Industries in the 1st quarter worth $41,000. Assetmark Inc. raised its position in shares of ABM Industries by 104.1% during the 2nd quarter. Assetmark Inc. now owns 951 shares of the business services provider’s stock valued at $41,000 after buying an additional 485 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of ABM Industries by 1,691.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,150 shares of the business services provider’s stock valued at $92,000 after buying an additional 2,030 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of ABM Industries by 20.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,415 shares of the business services provider’s stock valued at $105,000 after buying an additional 406 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE:ABM opened at $45.04 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 14.16 and a beta of 1.13. The firm’s 50-day moving average is $41.99 and its 200 day moving average is $43.92. ABM Industries Incorporated has a 12 month low of $37.68 and a 12 month high of $54.00.

ABM Industries (NYSE:ABMGet Rating) last issued its earnings results on Friday, September 9th. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.91 billion. ABM Industries had a net margin of 2.88% and a return on equity of 14.88%. The company’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. Research analysts predict that ABM Industries Incorporated will post 3.66 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Thursday, October 6th were paid a $0.195 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $0.78 dividend on an annualized basis and a yield of 1.73%. ABM Industries’s dividend payout ratio is currently 24.53%.

Insider Activity

In other news, CAO Dean A. Chin sold 2,521 shares of the stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $43.00, for a total transaction of $108,403.00. Following the transaction, the chief accounting officer now directly owns 20,994 shares in the company, valued at $902,742. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

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

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.

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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