10,787 Shares in ABM Industries Incorporated (NYSE:ABM) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new position in ABM Industries Incorporated (NYSE:ABM – Free Report) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 10,787 shares of the business services provider’s stock, valued at approximately $481,000.

Several other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp grew its position in ABM Industries by 36.9% during the first quarter. Van ECK Associates Corp now owns 78,681 shares of the business services provider’s stock valued at $3,511,000 after acquiring an additional 21,220 shares during the last quarter. Naples Global Advisors LLC grew its position in ABM Industries by 13.4% during the first quarter. Naples Global Advisors LLC now owns 7,407 shares of the business services provider’s stock valued at $330,000 after acquiring an additional 877 shares during the last quarter. Commonwealth Equity Services LLC grew its position in ABM Industries by 171.7% during the first quarter. Commonwealth Equity Services LLC now owns 13,782 shares of the business services provider’s stock valued at $615,000 after acquiring an additional 8,710 shares during the last quarter. Simplicity Wealth LLC bought a new position in ABM Industries during the first quarter valued at approximately $3,480,000. Finally, Olstein Capital Management LP grew its position in ABM Industries by 18.3% during the first quarter. Olstein Capital Management LP now owns 289,953 shares of the business services provider’s stock valued at $12,938,000 after acquiring an additional 44,953 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Andrea R. Newborn sold 12,615 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,063,115. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total value of $567,675.00. Following the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,063,115. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the completion of the transaction, the chief executive officer now directly owns 378,391 shares in the company, valued at approximately $18,503,319.90. The disclosure for this sale can be found here. Insiders have sold a total of 79,657 shares of company stock valued at $3,960,504 over the last ninety days. 1.04% of the stock is currently owned by corporate insiders.

ABM Industries Trading Down 0.3%

ABM Industries stock opened at $53.59 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $49.42 and its two-hundred day simple moving average is $45.05. ABM Industries Incorporated has a 12 month low of $37.61 and a 12 month high of $54.37. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 14.03 and a beta of 1.16.

ABM Industries (NYSE:ABM – Get Free Report) last released its earnings results on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts predict that ABM Industries Incorporated will post 3.47 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, July 5th. ABM Industries’s payout ratio is currently 23.56%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABM. Robert W. Baird increased their price target on shares of ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, June 10th. UBS Group boosted their price objective on shares of ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Finally, StockNews.com raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, ABM Industries presently has a consensus rating of “Hold” and a consensus target price of $48.80.

View Our Latest Stock Analysis on ABM Industries

ABM Industries Company Profile

(Free Report)

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.