Cable Hill Partners LLC Acquires New Holdings in ABM Industries Incorporated (NYSE:ABM)

Cable Hill Partners LLC acquired a new stake in ABM Industries Incorporated (NYSE:ABM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,512 shares of the business services provider’s stock, valued at approximately $231,000.

A number of other large investors have also added to or reduced their stakes in the business. Handelsbanken Fonder AB raised its holdings in ABM Industries by 11.6% during the 4th quarter. Handelsbanken Fonder AB now owns 14,409 shares of the business services provider’s stock worth $737,000 after purchasing an additional 1,500 shares during the last quarter. Ieq Capital LLC bought a new position in ABM Industries during the 4th quarter worth approximately $286,000. Convergence Investment Partners LLC raised its holdings in ABM Industries by 34.8% during the 4th quarter. Convergence Investment Partners LLC now owns 14,480 shares of the business services provider’s stock worth $741,000 after purchasing an additional 3,740 shares during the last quarter. CIBC Asset Management Inc raised its holdings in ABM Industries by 4.8% during the 4th quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider’s stock worth $321,000 after purchasing an additional 289 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in ABM Industries by 4.3% during the 4th quarter. Principal Financial Group Inc. now owns 341,616 shares of the business services provider’s stock worth $17,484,000 after purchasing an additional 13,985 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

NYSE:ABM opened at $53.93 on Friday. The company has a fifty day moving average of $52.34 and a 200-day moving average of $53.59. ABM Industries Incorporated has a twelve month low of $40.50 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 firm has a market capitalization of $3.36 billion, a P/E ratio of 42.46, a P/E/G ratio of 2.75 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the firm posted $1.01 EPS. ABM Industries’s revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 2nd were given a $0.265 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $1.06 annualized dividend and a yield of 1.97%. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analysts Forecast Growth

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

Insider Activity at ABM Industries

In other ABM Industries 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 transaction 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. The trade was a 18.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $528,400.00. Following the transaction, the chief operating officer now directly owns 87,808 shares in the company, valued at $4,639,774.72. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by 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.