Seven Eight Capital LP Acquires New Stake in ABM Industries Incorporated (NYSE:ABM)

Seven Eight Capital LP bought a new position in ABM Industries Incorporated (NYSE:ABMFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,732 shares of the business services provider’s stock, valued at approximately $795,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new position in ABM Industries in the 4th quarter worth about $649,000. TFO Wealth Partners LLC boosted its holdings in shares of ABM Industries by 166,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,666 shares of the business services provider’s stock valued at $750,000 after purchasing an additional 1,665 shares during the period. Olympiad Research LP increased its holdings in ABM Industries by 37.0% during the 4th quarter. Olympiad Research LP now owns 8,693 shares of the business services provider’s stock worth $390,000 after purchasing an additional 2,349 shares during the period. Goodman Financial Corp raised its position in ABM Industries by 2.0% during the 4th quarter. Goodman Financial Corp now owns 244,841 shares of the business services provider’s stock valued at $10,976,000 after purchasing an additional 4,764 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of ABM Industries during the 4th quarter worth $58,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Insider Activity

In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total transaction of $567,675.00. Following the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the completion of the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now owns 19,972 shares in the company, valued at approximately $896,543.08. The disclosure for this sale can be found here. Insiders have sold a total of 23,643 shares of company stock worth $1,055,490 over the last 90 days. 1.04% of the stock is currently owned by corporate insiders.

ABM Industries Stock Down 1.7 %

Shares of ABM Industries stock opened at $50.07 on Tuesday. ABM Industries Incorporated has a 52-week low of $37.61 and a 52-week high of $53.05. The firm’s 50 day moving average price is $45.62 and its 200-day moving average price is $43.70. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a market cap of $3.14 billion, a P/E ratio of 13.11 and a beta of 1.16.

ABM Industries (NYSE:ABMGet Free Report) last issued its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.79 by $0.08. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that ABM Industries Incorporated will post 3.43 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.80%. ABM Industries’s payout ratio is 23.56%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group lifted their price objective on ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Friday. Robert W. Baird lifted their price objective on shares of ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.80.

Get Our Latest Report on ABM

ABM Industries Company Profile

(Free Report)

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.

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

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