ABM Industries Incorporated (ABM) Shares Sold by Credit Suisse AG

Credit Suisse AG reduced its position in ABM Industries Incorporated (NYSE:ABM) by 50.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 49,941 shares of the business services provider’s stock after selling 49,854 shares during the period. Credit Suisse AG owned 0.09% of ABM Industries worth $2,178,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock worth $105,000 after buying an additional 946 shares during the period. Elkfork Partners LLC boosted its stake in ABM Industries by 2.5% in the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock worth $120,000 after buying an additional 66 shares during the period. Meadow Creek Investment Management LLC boosted its stake in ABM Industries by 2.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock worth $153,000 after buying an additional 84 shares during the period. PNC Financial Services Group Inc. boosted its stake in ABM Industries by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the business services provider’s stock worth $167,000 after buying an additional 236 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of ABM Industries by 2.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,250 shares of the business services provider’s stock valued at $185,000 after buying an additional 102 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Shares of ABM Industries Incorporated (ABM) traded down 0.56% during midday trading on Friday, reaching $42.94. 165,273 shares of the company traded hands. The stock’s 50-day moving average is $43.33 and its 200-day moving average is $42.48. The stock has a market capitalization of $2.39 billion, a P/E ratio of 190.84 and a beta of 0.80. ABM Industries Incorporated has a 1-year low of $37.47 and a 1-year high of $45.12.

ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, June 7th. The business services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company earned $0.31 earnings per share. ABM Industries’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts predict that ABM Industries Incorporated will post $1.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Thursday, July 6th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Monday, July 3rd. ABM Industries’s dividend payout ratio (DPR) is currently 283.33%.

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ABM has been the subject of several research reports. Zacks Investment Research upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Monday, July 17th. Robert W. Baird set a $50.00 price objective on shares of ABM Industries and gave the company a “buy” rating in a research note on Wednesday, May 31st. Sidoti upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $55.00 in a research note on Thursday, July 13th. Finally, BidaskClub raised shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $48.25.

In other ABM Industries news, SVP Dean A. Chin sold 632 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $44.95, for a total value of $28,408.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Mcclure sold 1,963 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $44.44, for a total value of $87,235.72. The disclosure for this sale can be found here. In the last three months, insiders sold 8,925 shares of company stock valued at $385,575. 1.30% of the stock is owned by corporate insiders.

About ABM Industries

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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