Trade Report: The BlackRock Advisors LLC Reduces stake in ABM Industries Inc. (ABM)

The BlackRock Advisors LLC Reduces stake in ABM Industries Inc. (ABM)

BlackRock Advisors LLC lowered its position in ABM Industries Inc. (NYSE:ABM) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 199,720 shares of the company’s stock after selling 747 shares during the period. BlackRock Advisors LLC owned about 0.36% of ABM Industries worth $7,286,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the company. Bruderman Asset Management LLC increased its position in ABM Industries by 100.4% in the second quarter. Bruderman Asset Management LLC now owns 2,916 shares of the company’s stock valued at $106,000 after buying an additional 1,461 shares in the last quarter. Quantbot Technologies LP increased its position in ABM Industries by 334.7% in the second quarter. Quantbot Technologies LP now owns 3,486 shares of the company’s stock valued at $127,000 after buying an additional 2,684 shares in the last quarter. Tower Research Capital LLC TRC increased its position in ABM Industries by 3,982.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,082 shares of the company’s stock valued at $149,000 after buying an additional 3,982 shares in the last quarter. Acadian Asset Management LLC bought a new position in ABM Industries during the second quarter valued at approximately $168,000. Finally, BlackRock Inc. increased its position in ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock valued at $170,000 after buying an additional 1,591 shares in the last quarter. Institutional investors and hedge funds own 90.56% of the company’s stock.

Shares of ABM Industries Inc. (NYSE:ABM) opened at 38.07 on Thursday. The firm has a market cap of $2.12 billion, a P/E ratio of 24.62 and a beta of 0.75. ABM Industries Inc. has a 52-week low of $26.50 and a 52-week high of $40.47. The firm’s 50-day moving average is $38.98 and its 200-day moving average is $35.93.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. Analysts anticipate that ABM Industries Inc. will post $1.73 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, October 4th. ABM Industries’s payout ratio is currently 42.58%.

Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “sell” rating in a report on Tuesday, August 9th. Robert W. Baird reiterated an “outperform” rating and issued a $44.00 price objective on shares of ABM Industries in a report on Saturday, September 10th. Finally, Imperial Capital upped their price objective on shares of ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, June 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of C$32.05.

In other news, insider Scott J. Giacobbe sold 5,000 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of C$36.86, for a total transaction of C$184,300.00. Following the transaction, the insider now directly owns 37,807 shares of the company’s stock, valued at C$1,393,566.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott J. Giacobbe sold 13,700 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of C$39.33, for a total value of C$538,821.00. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at C$1,312,953.39. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

About ABM Industries

ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.

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