Kennondale Capital Management LLC Buys Shares of 11,486 ABM Industries Incorporated (NYSE:ABM)

Kennondale Capital Management LLC bought a new stake in ABM Industries Incorporated (NYSE:ABM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,486 shares of the business services provider’s stock, valued at approximately $588,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in ABM Industries by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider’s stock valued at $76,582,000 after buying an additional 7,050 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of ABM Industries by 22.5% in the 4th quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider’s stock worth $43,550,000 after acquiring an additional 156,450 shares during the period. William Blair Investment Management LLC lifted its position in shares of ABM Industries by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 818,810 shares of the business services provider’s stock worth $41,907,000 after acquiring an additional 19,783 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of ABM Industries by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 693,325 shares of the business services provider’s stock worth $35,484,000 after acquiring an additional 12,319 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of ABM Industries by 4.3% in the 4th quarter. Principal Financial Group Inc. now owns 341,616 shares of the business services provider’s stock worth $17,484,000 after acquiring an additional 13,985 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group reduced their price objective on ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th.

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief accounting officer now 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 disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

ABM Industries Price Performance

Shares of ABM stock opened at $47.80 on Tuesday. The stock has a 50 day moving average of $52.31 and a two-hundred day moving average of $53.24. 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 $42.28 and a 12 month high of $59.78. The company has a market capitalization of $2.97 billion, a P/E ratio of 37.63, a P/E/G ratio of 2.75 and a beta of 1.13.

ABM Industries (NYSE:ABM) last posted 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. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. ABM Industries’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. As a group, equities analysts expect 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 given a dividend of $0.265 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.22%. ABM Industries’s dividend payout ratio (DPR) is presently 84.13%.

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.