AlphaQuest LLC Sells 8,038 Shares of ABM Industries Incorporated (NYSE:ABM)

AlphaQuest LLC trimmed its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 52.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,166 shares of the business services provider’s stock after selling 8,038 shares during the quarter. AlphaQuest LLC’s holdings in ABM Industries were worth $367,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of ABM Industries during the fourth quarter worth $33,000. Adirondack Trust Co. lifted its holdings in ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after buying an additional 200 shares during the period. Smartleaf Asset Management LLC lifted its holdings in ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock worth $46,000 after buying an additional 595 shares during the period. Quarry LP increased its stake in shares of ABM Industries by 49.7% in the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock valued at $115,000 after buying an additional 721 shares during the period. Finally, KBC Group NV raised its position in shares of ABM Industries by 60.9% during the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock worth $144,000 after acquiring an additional 1,067 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

ABM Industries Stock Performance

Shares of ABM Industries stock opened at $47.12 on Friday. The business has a 50-day moving average price of $52.55 and a two-hundred day moving average price of $53.45. ABM Industries Incorporated has a 1-year low of $41.51 and a 1-year high of $59.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market cap of $2.93 billion, a P/E ratio of 37.10, a PEG ratio of 2.75 and a beta of 1.13.

ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.90 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 quarter last year, the firm posted $1.01 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s dividend payout ratio is presently 83.46%.

Wall Street Analyst Weigh In

Separately, UBS Group reduced their target price on ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday.

Insiders Place Their Bets

In related news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction on Tuesday, January 14th. The shares were 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 owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Rene Jacobsen sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the transaction, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

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.