GAMMA Investing LLC Boosts Position in ABM Industries Incorporated (NYSE:ABM)

GAMMA Investing LLC lifted its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 4,082.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,140 shares of the business services provider's stock after buying an additional 68,463 shares during the quarter. GAMMA Investing LLC owned approximately 0.11% of ABM Industries worth $3,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABM. SBI Securities Co. Ltd. acquired a new stake in ABM Industries in the 4th quarter worth about $33,000. Smartleaf Asset Management LLC boosted its stake in shares of ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after acquiring an additional 595 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of ABM Industries by 834.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock worth $104,000 after purchasing an additional 1,820 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in ABM Industries in the 4th quarter valued at $190,000. Finally, Bridgefront Capital LLC acquired a new position in ABM Industries in the 4th quarter valued at $204,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABM. Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday. UBS Group upgraded shares of ABM Industries from a "neutral" rating to a "buy" rating and increased their price objective for the company 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 report on Monday. Finally, Wall Street Zen cut ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 31st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

ABM Industries Trading Down 0.1%

Shares of ABM stock traded down $0.05 during trading hours on Thursday, hitting $46.34. The company had a trading volume of 525,020 shares, compared to its average volume of 502,800. 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 stock has a market capitalization of $2.89 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. The company's fifty day moving average is $49.03 and its 200 day moving average is $51.10. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $59.78.

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

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.29%. ABM Industries's dividend payout ratio (DPR) is presently 85.48%.

Insider Transactions at ABM Industries

In other news, CEO Scott B. Salmirs sold 800 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 418,856 shares of the company's stock, valued at approximately $21,818,209.04. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean Michael Mahoney sold 1,800 shares of ABM Industries stock in a transaction that occurred on Wednesday, May 7th. The stock was 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 owns 47,425 shares of the company's stock, valued at $2,372,672.75. This represents a 3.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,374 shares of company stock valued at $2,733,303. 0.90% of the stock is currently owned by corporate insiders.

ABM Industries Company 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.