Burney Co. Increases Stake in ABM Industries Incorporated (NYSE:ABM)

Burney Co. grew its stake in ABM Industries Incorporated (NYSE:ABM) by 15.5% during the 4th quarter, HoldingsChannel reports. The firm owned 16,449 shares of the business services provider’s stock after buying an additional 2,210 shares during the quarter. Burney Co.’s holdings in ABM Industries were worth $842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its holdings in ABM Industries by 2.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock worth $900,000 after buying an additional 378 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of ABM Industries by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 35,036 shares of the business services provider’s stock worth $1,772,000 after acquiring an additional 539 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of ABM Industries in the third quarter worth about $30,000. Kovitz Investment Group Partners LLC grew its position in shares of ABM Industries by 3.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,804 shares of the business services provider’s stock valued at $791,000 after acquiring an additional 588 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of ABM Industries by 58.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 589 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Stock Up 0.9 %

ABM opened at $53.44 on Friday. ABM Industries Incorporated has a twelve month low of $39.64 and a twelve month high of $59.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $54.26 and a 200 day moving average price of $53.48. The company has a market cap of $3.32 billion, a PE ratio of 42.08, a price-to-earnings-growth ratio of 2.63 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data 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 company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. ABM Industries’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s payout ratio is 83.47%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at $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 is available through this hyperlink. 1.04% of the stock is currently owned by corporate insiders.

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.