ABM Industries Incorporated (NYSE:ABM) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in ABM Industries Incorporated (NYSE:ABM) by 11.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,409 shares of the business services provider’s stock after buying an additional 1,500 shares during the period. Handelsbanken Fonder AB’s holdings in ABM Industries were worth $737,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Savant Capital LLC grew its holdings in shares of ABM Industries by 1.7% in the 4th quarter. Savant Capital LLC now owns 11,707 shares of the business services provider’s stock worth $599,000 after acquiring an additional 191 shares during the last quarter. Adirondack Trust Co. grew its holdings in shares of ABM Industries by 28.6% in the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after acquiring an additional 200 shares during the last quarter. Naples Global Advisors LLC grew its holdings in shares of ABM Industries by 2.3% in the 4th quarter. Naples Global Advisors LLC now owns 11,038 shares of the business services provider’s stock worth $565,000 after acquiring an additional 253 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of ABM Industries by 4.8% in the 4th quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider’s stock worth $321,000 after acquiring an additional 289 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of ABM Industries by 2.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock worth $900,000 after acquiring an additional 378 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, UBS Group lifted their target price on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th.

Insider Activity at ABM Industries

In related news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the sale, the chief operating officer now owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

ABM Industries Stock Performance

Shares of ABM Industries stock opened at $54.22 on Friday. The stock has a market cap of $3.37 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 2.75 and a beta of 1.16. The business has a fifty day simple moving average of $52.40 and a 200-day simple moving average of $53.60. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a 12 month low of $40.50 and a 12 month high of $59.78.

ABM Industries (NYSE:ABM) last issued its earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. ABM Industries’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. On average, sell-side analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Thursday, January 2nd. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio (DPR) is 83.46%.

About ABM Industries

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.