Goldman Sachs Group Inc. Boosts Stake in ABM Industries, Inc. (NYSE:ABM)

Goldman Sachs Group Inc. raised its position in shares of ABM Industries, Inc. (NYSE:ABM) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,187,722 shares of the business services provider’s stock after acquiring an additional 118,398 shares during the period. Goldman Sachs Group Inc. owned approximately 1.78% of ABM Industries worth $44,789,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Comerica Bank grew its position in ABM Industries by 0.4% during the fourth quarter. Comerica Bank now owns 63,346 shares of the business services provider’s stock valued at $2,463,000 after acquiring an additional 260 shares during the period. Creative Planning grew its position in ABM Industries by 2.3% during the fourth quarter. Creative Planning now owns 13,605 shares of the business services provider’s stock valued at $513,000 after acquiring an additional 300 shares during the period. Municipal Employees Retirement System of Michigan grew its position in ABM Industries by 2.0% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 20,330 shares of the business services provider’s stock valued at $767,000 after acquiring an additional 400 shares during the period. Prudential Financial Inc. grew its position in ABM Industries by 0.4% during the fourth quarter. Prudential Financial Inc. now owns 105,503 shares of the business services provider’s stock valued at $3,979,000 after acquiring an additional 461 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in ABM Industries by 12.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,201 shares of the business services provider’s stock valued at $158,000 after acquiring an additional 477 shares during the period. 99.81% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the company. Maxim Group reissued a “buy” rating and set a $43.00 price target on shares of ABM Industries in a research report on Friday, February 28th. Robert W. Baird boosted their price target on ABM Industries from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. TheStreet downgraded ABM Industries from a “b-” rating to a “c+” rating in a research report on Monday, March 16th. Finally, ValuEngine raised ABM Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $38.94.

In related news, EVP Rene Jacobsen sold 716 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $38.57, for a total value of $27,616.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott J. Giacobbe sold 5,984 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $39.35, for a total value of $235,470.40. Following the completion of the transaction, the executive vice president now directly owns 80,591 shares of the company’s stock, valued at approximately $3,171,255.85. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Shares of NYSE ABM opened at $21.01 on Thursday. ABM Industries, Inc. has a 1-year low of $19.79 and a 1-year high of $42.67. The business has a 50-day moving average of $33.00 and a 200-day moving average of $36.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 9.92 and a beta of 0.72.

ABM Industries (NYSE:ABM) last issued its earnings results on Wednesday, March 4th. The business services provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.10. ABM Industries had a return on equity of 9.37% and a net margin of 2.19%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. Research analysts expect that ABM Industries, Inc. will post 2.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Thursday, April 2nd will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Wednesday, April 1st. ABM Industries’s payout ratio is 36.10%.

About ABM Industries

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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