Arizona State Retirement System Sells 513 Shares of ABM Industries Incorporated (NYSE:ABM)

Arizona State Retirement System cut its holdings in ABM Industries Incorporated (NYSE:ABM) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,320 shares of the business services provider’s stock after selling 513 shares during the period. Arizona State Retirement System’s holdings in ABM Industries were worth $821,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in ABM Industries during the 1st quarter valued at about $284,000. Bank of Montreal Can grew its holdings in ABM Industries by 2.2% during the 1st quarter. Bank of Montreal Can now owns 21,837 shares of the business services provider’s stock valued at $1,000,000 after purchasing an additional 473 shares during the last quarter. MetLife Investment Management LLC grew its holdings in ABM Industries by 53.8% during the 1st quarter. MetLife Investment Management LLC now owns 35,527 shares of the business services provider’s stock valued at $1,636,000 after purchasing an additional 12,425 shares during the last quarter. Rhumbline Advisers grew its holdings in ABM Industries by 2.2% during the 1st quarter. Rhumbline Advisers now owns 193,026 shares of the business services provider’s stock valued at $8,887,000 after purchasing an additional 4,196 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in ABM Industries by 2.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 60,453 shares of the business services provider’s stock valued at $2,860,000 after purchasing an additional 1,246 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors.

Insider Transactions at ABM Industries

In other news, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the sale, the chief accounting officer now owns 19,972 shares of the company’s stock, valued at approximately $896,543.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Rene Jacobsen sold 5,563 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dean A. Chin sold 5,465 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were 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 approximately $896,543.08. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

Shares of ABM stock opened at $43.63 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $2.76 billion, a P/E ratio of 11.16 and a beta of 1.16. The company’s 50-day simple moving average is $42.45 and its two-hundred day simple moving average is $42.30. ABM Industries Incorporated has a one year low of $37.61 and a one year high of $53.05.

ABM Industries (NYSE:ABM) last issued its earnings results on Thursday, March 7th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.01 billion. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. As a group, equities analysts anticipate that ABM Industries Incorporated will post 3.37 EPS for the current year.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be given a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a dividend yield of 2.06%. ABM Industries’s payout ratio is presently 23.02%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.20.

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.