Jennison Associates LLC Purchases Shares of 12,948 ABM Industries Incorporated (NYSE:ABM)

Jennison Associates LLC purchased a new stake in shares of ABM Industries Incorporated (NYSE:ABMFree Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,948 shares of the business services provider’s stock, valued at approximately $578,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in ABM Industries during the fourth quarter valued at approximately $25,000. SRS Capital Advisors Inc. grew its stake in shares of ABM Industries by 323.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock worth $30,000 after acquiring an additional 511 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of ABM Industries in the fourth quarter worth $48,000. Clarity Asset Management Inc. acquired a new stake in shares of ABM Industries in the fourth quarter worth $54,000. Finally, Quest Partners LLC acquired a new stake in shares of ABM Industries in the fourth quarter worth $58,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Insider Buying and Selling

In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.04% of the stock is currently owned by corporate insiders.

ABM Industries Trading Up 0.1 %

Shares of ABM stock opened at $49.03 on Thursday. ABM Industries Incorporated has a 52-week low of $37.61 and a 52-week high of $53.05. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 12.84 and a beta of 1.16. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a fifty day moving average of $48.37 and a 200-day moving average of $44.68.

ABM Industries (NYSE:ABMGet Free Report) last announced its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 EPS. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.47 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th 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 1.84%. The ex-dividend date of this dividend is Friday, July 5th. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ABM shares. StockNews.com upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. UBS Group raised their price objective on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Finally, Robert W. Baird raised their price objective on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, June 10th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.80.

Check Out Our Latest Stock Analysis on ABM

ABM Industries 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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