United Services Automobile Association Grows Position in ABM Industries, Inc. (NYSE:ABM)

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United Services Automobile Association raised its holdings in shares of ABM Industries, Inc. (NYSE:ABM) by 25.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,538 shares of the business services provider’s stock after buying an additional 3,785 shares during the quarter. United Services Automobile Association’s holdings in ABM Industries were worth $742,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ABM. Steward Partners Investment Advisory LLC purchased a new stake in shares of ABM Industries in the second quarter valued at about $28,000. Valeo Financial Advisors LLC purchased a new stake in shares of ABM Industries in the second quarter valued at about $41,000. Point72 Hong Kong Ltd purchased a new stake in shares of ABM Industries in the second quarter valued at about $48,000. Krane Funds Advisors LLC purchased a new stake in shares of ABM Industries in the second quarter valued at about $59,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of ABM Industries in the second quarter valued at about $88,000. 99.46% of the stock is owned by institutional investors and hedge funds.

Shares of ABM stock opened at $36.12 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $2.28 billion, a PE ratio of 17.54 and a beta of 0.63. The company has a 50-day moving average of $36.17 and a two-hundred day moving average of $38.13. ABM Industries, Inc. has a 1-year low of $25.64 and a 1-year high of $42.67.

ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, September 5th. The business services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. ABM Industries had a net margin of 1.37% and a return on equity of 8.90%. ABM Industries’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. Sell-side analysts anticipate that ABM Industries, Inc. will post 2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, October 2nd. ABM Industries’s dividend payout ratio (DPR) is presently 38.10%.

A number of equities research analysts recently issued reports on ABM shares. Maxim Group set a $50.00 price objective on shares of ABM Industries and gave the company a “buy” rating in a report on Tuesday, September 3rd. ValuEngine lowered shares of ABM Industries from a “hold” rating to a “sell” rating in a report on Friday, September 6th. William Blair started coverage on shares of ABM Industries in a report on Thursday, August 15th. They issued a “market perform” rating for the company. Finally, Robert W. Baird set a $38.00 price objective on shares of ABM Industries and gave the company a “hold” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. ABM Industries presently has an average rating of “Hold” and an average target price of $41.96.

In other ABM Industries news, CAO Dean A. Chin sold 1,329 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $39.95, for a total transaction of $53,093.55. Following the completion of the transaction, the chief accounting officer now owns 19,976 shares of the company’s stock, valued at $798,041.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rene Jacobsen sold 1,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,904 shares of company stock valued at $566,797. 0.94% of the stock is currently owned by insiders.

ABM Industries Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.

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

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