Teacher Retirement System of Texas increased its stake in ABM Industries Inc. (NYSE:ABM) by 13.7% during the second quarter, Holdings Channel reports. The fund owned 7,498 shares of the company’s stock after buying an additional 905 shares during the period. Teacher Retirement System of Texas’ holdings in ABM Industries were worth $274,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC boosted 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 during the last quarter. Quantbot Technologies LP boosted 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 during the last quarter. Acadian Asset Management LLC bought a new position in ABM Industries during the second quarter valued at approximately $168,000. BlackRock Inc. boosted 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 during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in ABM Industries by 21.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,538 shares of the company’s stock valued at $202,000 after buying an additional 984 shares during the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.
ABM Industries Inc. (NYSE:ABM) opened at 37.82 on Monday. The firm has a market capitalization of $2.11 billion, a PE ratio of 24.46 and a beta of 0.75. The stock’s 50 day moving average price is $38.97 and its 200 day moving average price is $35.99. ABM Industries Inc. has a 52-week low of $26.50 and a 52-week high of $40.47.
ABM Industries (NYSE:ABM) last issued its earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. Analysts expect that ABM Industries Inc. will post $1.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Thursday, October 6th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, October 4th. ABM Industries’s dividend payout ratio (DPR) is currently 42.58%.
Several research analysts recently commented on ABM shares. Zacks Investment Research raised ABM Industries from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Friday, September 9th. Imperial Capital boosted their target price on ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a research note on Thursday, June 23rd. Finally, Robert W. Baird reissued an “outperform” rating and set a $44.00 target price on shares of ABM Industries in a research note on Saturday, September 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. ABM Industries currently has an average rating of “Buy” and an average target price of C$32.05.
In other ABM Industries news, insider Scott J. Giacobbe sold 1,300 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of C$39.02, for a total value of C$50,726.00. Following the transaction, the insider now directly owns 34,183 shares of the company’s stock, valued at C$1,333,820.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sarah H. Mcconnell sold 8,322 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of C$39.83, for a total value of C$331,465.26. Following the completion of the transaction, the executive vice president now directly owns 66,429 shares in the company, valued at C$2,645,867.07. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
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.