Trading Report: Today, Teacher Retirement System of Texas invests in ABM Industries Inc. (ABM) Shares

Today, Teacher Retirement System of Texas invests in ABM Industries Inc. (ABM) Shares

Teacher Retirement System of Texas raised its position 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.

Other hedge funds have also made changes to their positions in the company. Anchor Capital Advisors LLC raised its position in shares of ABM Industries by 0.6% in the second quarter. Anchor Capital Advisors LLC now owns 37,704 shares of the company’s stock valued at $1,375,000 after buying an additional 239 shares in the last quarter. Creative Planning raised its position in shares of ABM Industries by 3.7% in the second quarter. Creative Planning now owns 14,310 shares of the company’s stock valued at $522,000 after buying an additional 510 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of ABM Industries by 0.8% in the second quarter. Suntrust Banks Inc. now owns 75,094 shares of the company’s stock valued at $2,738,000 after buying an additional 565 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of 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 in the last quarter. Finally, Bruderman Asset Management LLC raised its position in shares of 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. 90.54% of the stock is owned by institutional investors.

ABM Industries Inc. (NYSE:ABM) opened at 37.82 on Monday. The stock has a 50 day moving average price of $38.97 and a 200 day moving average price of $35.99. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 24.46 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.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, September 7th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.14. The company 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%. ABM Industries’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. Analysts expect that ABM Industries Inc. will post $1.73 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Thursday, October 6th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, October 4th. ABM Industries’s dividend payout ratio (DPR) is presently 42.58%.

Several equities analysts have commented on ABM shares. Imperial Capital raised their price objective on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, June 23rd. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “sell” rating in a research report on Tuesday, August 9th. Finally, Robert W. Baird reissued an “outperform” rating and set a $40.00 price objective on shares of ABM Industries in a research report on Wednesday, August 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. 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 1,300 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of C$39.02, for a total transaction of C$50,726.00. Following the transaction, the insider now owns 34,183 shares of the company’s stock, valued at approximately C$1,333,820.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sarah H. Mcconnell sold 8,322 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of C$39.83, for a total value of C$331,465.26. Following the transaction, the executive vice president now directly owns 66,429 shares in the company, valued at approximately C$2,645,867.07. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

ABM Industries Company Profile

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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