Zurcher Kantonalbank Zurich Cantonalbank Increases Position in ABM Industries Incorporated (NYSE:ABM)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ABM Industries Incorporated (NYSE:ABM) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,072 shares of the business services provider’s stock after purchasing an additional 1,856 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ABM Industries were worth $712,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its position in ABM Industries by 136.5% in the 4th quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock valued at $3,529,000 after acquiring an additional 45,442 shares in the last quarter. Boston Partners lifted its holdings in ABM Industries by 152.2% during the 1st quarter. Boston Partners now owns 24,125 shares of the business services provider’s stock worth $1,076,000 after buying an additional 14,560 shares in the last quarter. Quadrature Capital Ltd grew its stake in shares of ABM Industries by 203.0% in the fourth quarter. Quadrature Capital Ltd now owns 37,990 shares of the business services provider’s stock worth $1,703,000 after acquiring an additional 25,453 shares in the last quarter. SG Capital Management LLC purchased a new stake in shares of ABM Industries during the first quarter worth $13,730,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of ABM Industries in the first quarter valued at $481,000. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Stock Performance

Shares of ABM Industries stock opened at $55.98 on Thursday. The firm’s 50 day moving average is $53.39 and its two-hundred day moving average is $48.05. ABM Industries Incorporated has a 52 week low of $37.61 and a 52 week high of $57.25. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $3.51 billion, a P/E ratio of 14.65 and a beta of 1.16.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share (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 company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the company posted $0.90 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts forecast that ABM Industries Incorporated will post 3.46 EPS for the current fiscal year.

Insider Activity at ABM Industries

In other ABM Industries news, CEO Scott B. Salmirs sold 25,000 shares of ABM Industries stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the transaction, the chief executive officer now owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The transaction was disclosed in a filing with the SEC, which is available at this link. In other ABM Industries news, CEO Scott B. Salmirs sold 11,736 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total transaction of $646,418.88. Following the completion of the sale, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of ABM Industries stock in a transaction that occurred on 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 owns 378,391 shares in the company, valued at $18,503,319.90. The disclosure for this sale can be found here. Insiders sold a total of 78,778 shares of company stock valued at $4,039,248 in the last three months. 1.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABM. Robert W. Baird increased their price target on ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, June 10th. StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, UBS Group increased 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. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, ABM Industries has a consensus rating of “Hold” and a consensus target price of $48.80.

ABM Industries 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.