Brighton Jones LLC Invests $330,000 in ABM Industries Incorporated (NYSE:ABM)

Brighton Jones LLC bought a new position in ABM Industries Incorporated (NYSE:ABM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,973 shares of the business services provider's stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Palouse Capital Management Inc. lifted its position in shares of ABM Industries by 17.4% in the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock valued at $143,000 after acquiring an additional 446 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of ABM Industries by 12.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider's stock worth $289,000 after purchasing an additional 693 shares during the last quarter. apricus wealth LLC acquired a new position in shares of ABM Industries during the 1st quarter worth $217,000. GAMMA Investing LLC increased its stake in shares of ABM Industries by 4,082.5% during the 1st quarter. GAMMA Investing LLC now owns 70,140 shares of the business services provider's stock worth $3,322,000 after purchasing an additional 68,463 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of ABM Industries during the 4th quarter worth $7,044,000. Institutional investors own 91.62% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABM shares. Wall Street Zen lowered shares of ABM Industries from a "buy" rating to a "hold" rating in a research note on Saturday, May 31st. Robert W. Baird upgraded shares of 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, June 9th. Baird R W upgraded shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Finally, UBS Group upgraded shares of ABM Industries from a "neutral" rating to a "buy" rating and raised their target price for the company from $50.00 to $54.00 in a research note on Monday, June 9th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Insider Buying and Selling at ABM Industries

In other news, EVP Sean Michael Mahoney sold 1,800 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the transaction, the executive vice president now directly owns 47,425 shares of the company's stock, valued at approximately $2,372,672.75. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott B. Salmirs sold 800 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $52.09, for a total transaction of $41,672.00. Following the transaction, the chief executive officer now directly owns 418,856 shares of the company's stock, 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 56,085 shares of company stock valued at $2,902,227 in the last ninety days. Company insiders own 0.90% of the company's stock.

ABM Industries Stock Performance

ABM Industries stock traded down $0.13 during mid-day trading on Thursday, reaching $44.06. The company had a trading volume of 428,444 shares, compared to its average volume of 501,201. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio 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 50 day moving average of $49.14 and a 200-day moving average of $50.58. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 2.27 and a beta of 0.83.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the company earned $0.87 earnings per share. ABM Industries's revenue for the quarter was up 4.6% on a year-over-year basis. On average, sell-side analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. ABM Industries's dividend payout ratio (DPR) is presently 85.48%.

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.