Louisiana State Employees Retirement System Takes $1.47 Million Position in ABM Industries Incorporated (NYSE:ABM)

Louisiana State Employees Retirement System purchased a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,800 shares of the business services provider's stock, valued at approximately $1,470,000. Louisiana State Employees Retirement System owned about 0.05% of ABM Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ABM. Amundi bought a new stake in shares of ABM Industries in the 4th quarter valued at about $36,000. Point72 Asset Management L.P. bought a new stake in shares of ABM Industries in the 2nd quarter valued at about $46,000. Exchange Traded Concepts LLC bought a new stake in shares of ABM Industries in the 4th quarter valued at about $48,000. Quarry LP bought a new stake in shares of ABM Industries in the 2nd quarter valued at about $64,000. Finally, Neo Ivy Capital Management bought a new stake in ABM Industries during the 2nd quarter worth approximately $123,000. 91.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut ABM Industries from a "buy" rating to a "hold" rating in a research note on Saturday, February 3rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $45.20.

ABM Industries Stock Up 1.2 %

NYSE ABM traded up $0.52 during trading hours on Friday, reaching $44.32. 416,078 shares of the company's stock were exchanged, compared to its average volume of 601,000. The company's 50-day moving average is $42.60 and its two-hundred day moving average is $42.37. ABM Industries Incorporated has a one year low of $37.61 and a one year high of $53.05. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 11.34 and a beta of 1.16.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.01 billion. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The business's quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. On average, analysts forecast that ABM Industries Incorporated will post 3.37 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be paid a dividend of $0.225 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a dividend yield of 2.03%. ABM Industries's dividend payout ratio is currently 23.02%.

Insider Transactions at ABM Industries

In other news, CAO Dean A. Chin sold 5,465 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total transaction of $245,323.85. Following the completion of the transaction, the chief accounting officer now directly owns 19,972 shares of the company's stock, valued at approximately $896,543.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Rene Jacobsen sold 5,563 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now owns 111,677 shares of the company's stock, valued at approximately $4,868,000.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dean A. Chin sold 5,465 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the sale, the chief accounting officer now directly owns 19,972 shares of the company's stock, valued at approximately $896,543.08. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

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.