Two Sigma Investments LP Reduces Holdings in ABM Industries Incorporated (NYSE:ABM)

Two Sigma Investments LP cut its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 36.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,128 shares of the business services provider's stock after selling 12,757 shares during the period. Two Sigma Investments LP's holdings in ABM Industries were worth $1,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABM. Vanguard Group Inc. grew its stake in shares of ABM Industries by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,198,258 shares of the business services provider's stock worth $419,587,000 after acquiring an additional 55,584 shares in the last quarter. Invesco Ltd. boosted its holdings in ABM Industries by 14.8% during the fourth quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider's stock worth $77,666,000 after purchasing an additional 195,978 shares during the last quarter. American Century Companies Inc. grew its position in ABM Industries by 2,322.1% in the 4th quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider's stock worth $60,582,000 after purchasing an additional 1,134,825 shares in the last quarter. Norges Bank purchased a new stake in ABM Industries in the 4th quarter valued at about $43,967,000. Finally, Pzena Investment Management LLC lifted its position in shares of ABM Industries by 22.5% during the 4th quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider's stock worth $43,550,000 after buying an additional 156,450 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company's stock.

ABM Industries Stock Performance

Shares of ABM traded up $1.73 during mid-day trading on Monday, hitting $48.34. The stock had a trading volume of 1,165,619 shares, compared to its average volume of 502,713. The firm has a market cap of $3.01 billion, a P/E ratio of 38.06, a PEG ratio of 2.75 and a beta of 0.83. ABM Industries Incorporated has a 52 week low of $40.85 and a 52 week high of $59.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The business has a fifty day moving average price of $48.99 and a 200-day moving average price of $51.21.

ABM Industries (NYSE:ABM - Get Free Report) last released its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.07 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 earnings per share. On average, equities research analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.19%. ABM Industries's dividend payout ratio is currently 84.13%.

Insider Buying and Selling at ABM Industries

In related news, EVP Sean Michael Mahoney sold 574 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $50.06, for a total transaction of $28,734.44. Following the transaction, the executive vice president now directly owns 49,225 shares of the company's stock, valued at approximately $2,464,203.50. This trade represents a 1.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Scott B. Salmirs sold 800 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $52.09, for a total transaction of $41,672.00. Following the transaction, the chief executive officer now owns 418,856 shares in the company, valued at $21,818,209.04. The trade was a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,374 shares of company stock worth $2,733,303 over the last three months. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on ABM shares. UBS Group upgraded ABM Industries from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $50.00 to $54.00 in a report on Monday. Robert W. Baird upgraded ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price on the stock in a research note on Monday. Finally, Wall Street Zen lowered shares of ABM Industries from a "buy" rating to a "hold" rating in a research report on Saturday, May 31st.

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.