SkyOak Wealth LLC Lowers Stake in ABM Industries Incorporated (NYSE:ABM)

SkyOak Wealth LLC decreased its position in ABM Industries Incorporated (NYSE:ABM) by 22.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,629 shares of the business services provider’s stock after selling 1,587 shares during the quarter. SkyOak Wealth LLC’s holdings in ABM Industries were worth $288,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of ABM Industries by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider’s stock valued at $76,582,000 after purchasing an additional 7,050 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of ABM Industries by 67.0% in the third quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider’s stock worth $36,640,000 after acquiring an additional 278,575 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ABM Industries by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 681,006 shares of the business services provider’s stock worth $35,930,000 after acquiring an additional 12,179 shares during the period. Principal Financial Group Inc. raised its stake in shares of ABM Industries by 4.9% in the third quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock valued at $17,286,000 after acquiring an additional 15,438 shares in the last quarter. Finally, Easterly Investment Partners LLC boosted its holdings in ABM Industries by 5.3% in the third quarter. Easterly Investment Partners LLC now owns 242,140 shares of the business services provider’s stock valued at $12,775,000 after purchasing an additional 12,243 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Price Performance

ABM Industries stock opened at $53.31 on Monday. The stock has a market cap of $3.32 billion, a P/E ratio of 41.98, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16. The company has a fifty day simple moving average of $53.53 and a 200-day simple moving average of $53.71. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the prior year, the firm posted $1.01 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 1.99%. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio (DPR) is presently 83.46%.

Insider Transactions at ABM Industries

In other news, CAO Dean A. Chin sold 4,281 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the sale, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group increased their price target on ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th.

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.