ABM Industries Incorporated (NYSE:ABM) Stake Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,484 shares of the business services provider’s stock after selling 4,103 shares during the quarter. New York State Teachers Retirement System owned about 0.17% of ABM Industries worth $4,774,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in ABM Industries by 19.3% during the 1st quarter. State Street Corp now owns 7,059,579 shares of the business services provider’s stock worth $325,023,000 after acquiring an additional 1,140,097 shares during the period. Goldman Sachs Group Inc. boosted its position in ABM Industries by 353.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,396,596 shares of the business services provider’s stock worth $60,641,000 after acquiring an additional 1,088,389 shares during the period. Norges Bank acquired a new position in ABM Industries during the 4th quarter worth $28,698,000. Victory Capital Management Inc. boosted its position in ABM Industries by 16.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,931,733 shares of the business services provider’s stock worth $85,808,000 after acquiring an additional 268,099 shares during the period. Finally, FMR LLC boosted its position in ABM Industries by 178.7% during the 2nd quarter. FMR LLC now owns 398,426 shares of the business services provider’s stock worth $17,300,000 after acquiring an additional 255,471 shares during the period. 91.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at ABM Industries

In other news, CAO Dean A. Chin sold 5,465 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Dean A. Chin sold 5,465 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief operating officer now directly owns 111,677 shares in the company, valued at $4,868,000.43. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

ABM Industries Trading Down 0.3 %

Shares of ABM Industries stock opened at $43.57 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 11.14 and a beta of 1.16. The business has a fifty day simple moving average of $42.24 and a 200-day simple moving average of $42.21. ABM Industries Incorporated has a fifty-two week low of $37.61 and a fifty-two week high of $53.05.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data 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. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.01 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, equities analysts forecast that ABM Industries Incorporated will post 3.37 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders 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 dividend yield of 2.07%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 23.02%.

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. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.