Virtu Financial LLC Takes Position in ABM Industries Incorporated (NYSE:ABM)

Virtu Financial LLC acquired a new position in ABM Industries Incorporated (NYSE:ABM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 8,493 shares of the business services provider’s stock, valued at approximately $381,000.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of ABM Industries by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 611,698 shares of the business services provider’s stock worth $24,474,000 after acquiring an additional 15,976 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in ABM Industries by 27.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,385 shares of the business services provider’s stock worth $295,000 after purchasing an additional 1,584 shares during the last quarter. UBS Group AG grew its position in ABM Industries by 32.3% in the 3rd quarter. UBS Group AG now owns 63,364 shares of the business services provider’s stock worth $2,535,000 after purchasing an additional 15,469 shares during the period. Deutsche Bank AG raised its stake in ABM Industries by 12.2% during the 3rd quarter. Deutsche Bank AG now owns 38,975 shares of the business services provider’s stock valued at $1,559,000 after buying an additional 4,235 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of ABM Industries by 1.0% during the 3rd quarter. Rhumbline Advisers now owns 217,949 shares of the business services provider’s stock valued at $8,720,000 after buying an additional 2,171 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

ABM opened at $50.70 on Thursday. The firm has a market cap of $3.18 billion, a P/E ratio of 13.27 and a beta of 1.16. ABM Industries Incorporated has a 1-year low of $37.61 and a 1-year high of $53.05. The company has a 50 day simple moving average of $46.51 and a two-hundred day simple moving average of $44.14. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.44.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business posted $0.90 EPS. ABM Industries’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts forecast that ABM Industries Incorporated will post 3.47 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.90 annualized dividend and a yield of 1.78%. ABM Industries’s payout ratio is 23.56%.

Insider Buying and Selling at ABM Industries

In other news, CAO Dean A. Chin sold 5,465 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the transaction, the chief accounting officer now owns 19,972 shares of the company’s stock, valued at $896,543.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other ABM Industries news, CAO Dean A. Chin sold 5,465 shares of ABM Industries stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now directly owns 19,972 shares in the company, valued at approximately $896,543.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrea R. Newborn sold 12,615 shares of the business’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 completion of the sale, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,063,115. The disclosure for this sale can be found here. Insiders sold a total of 23,643 shares of company stock valued at $1,055,490 in the last three months. 1.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ABM has been the subject of several research analyst reports. StockNews.com raised ABM Industries from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Robert W. Baird upped 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. Finally, UBS Group raised their price objective on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, ABM Industries presently has an average rating of “Hold” and an average target price of $48.80.

ABM Industries Company Profile

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.