ABM Industries Incorporated (NYSE:ABM) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 32.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,419 shares of the business services provider’s stock after acquiring an additional 11,726 shares during the quarter. Kingsview Wealth Management LLC owned about 0.08% of ABM Industries worth $2,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of ABM Industries in the third quarter worth about $30,000. Copeland Capital Management LLC purchased a new position in ABM Industries in the 3rd quarter worth approximately $37,000. Adirondack Trust Co. grew its position in ABM Industries by 28.6% in the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of ABM Industries by 58.8% during the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after purchasing an additional 589 shares during the period. Finally, Quarry LP lifted its position in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after purchasing an additional 721 shares in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Price Performance

Shares of NYSE ABM opened at $53.27 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a fifty-two week low of $39.64 and a fifty-two week high of $59.78. The business has a 50 day moving average price of $53.14 and a two-hundred day moving average price of $53.67. The firm has a market cap of $3.31 billion, a PE ratio of 41.95, a price-to-earnings-growth ratio of 2.79 and a beta of 1.16.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 0.97% and a return on equity of 12.48%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. Sell-side analysts expect that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio is 83.47%.

Insider Transactions at ABM Industries

In related news, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. This represents a 18.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

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

ABM Industries 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.