ABM Industries Incorporated (NYSE:ABM) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,409 shares of the business services provider’s stock after selling 279 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ABM Industries were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ABM. SBI Securities Co. Ltd. purchased a new position in shares of ABM Industries during the fourth quarter worth $33,000. Smartleaf Asset Management LLC increased its stake in shares of ABM Industries by 193.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 595 shares in the last quarter. Sterling Capital Management LLC raised its holdings in ABM Industries by 834.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider’s stock worth $104,000 after purchasing an additional 1,820 shares during the period. Raiffeisen Bank International AG acquired a new stake in ABM Industries in the 4th quarter valued at $190,000. Finally, Bridgefront Capital LLC acquired a new position in shares of ABM Industries during the 4th quarter worth about $204,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABM. Baird R W raised shares of ABM Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. Wall Street Zen cut shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 31st. UBS Group upgraded ABM Industries from a “neutral” rating to a “buy” rating and increased their price objective for the company from $50.00 to $54.00 in a report on Monday, June 9th. Finally, Robert W. Baird upgraded ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 target price for the company in a research note on Monday, June 9th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Insiders Place Their Bets

In related news, CEO Scott B. Salmirs sold 37,065 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $52.37, for a total transaction of $1,941,094.05. Following the sale, the chief executive officer now owns 369,656 shares of the company’s stock, valued at approximately $19,358,884.72. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sean Michael Mahoney sold 574 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $50.06, for a total value of $28,734.44. Following the completion of the sale, the executive vice president now directly owns 49,225 shares in the company, valued at $2,464,203.50. This trade represents a 1.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,374 shares of company stock worth $2,733,303. Company insiders own 0.90% of the company’s stock.

ABM Industries Price Performance

Shares of ABM opened at $44.84 on Monday. The firm has a fifty day moving average price of $49.13 and a 200 day moving average price of $50.85. The stock has a market cap of $2.79 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. ABM Industries Incorporated has a 1-year low of $40.85 and a 1-year high of $59.78.

ABM Industries (NYSE:ABM) last announced its earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the company posted $0.87 EPS. ABM Industries’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, July 3rd. ABM Industries’s dividend payout ratio is presently 85.48%.

ABM Industries 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.