Naples Global Advisors LLC Acquires 253 Shares of ABM Industries Incorporated (NYSE:ABM)

Naples Global Advisors LLC lifted its stake in ABM Industries Incorporated (NYSE:ABM) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,038 shares of the business services provider’s stock after acquiring an additional 253 shares during the period. Naples Global Advisors LLC’s holdings in ABM Industries were worth $565,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Savant Capital LLC raised its stake in shares of ABM Industries by 1.7% during the 4th quarter. Savant Capital LLC now owns 11,707 shares of the business services provider’s stock valued at $599,000 after purchasing an additional 191 shares during the period. Adirondack Trust Co. increased its position in shares of ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after buying an additional 200 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of ABM Industries by 2.3% in 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. Capital Performance Advisors LLP purchased a new stake in shares of ABM Industries in the third quarter worth about $30,000. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of ABM Industries by 3.9% in the third 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. 91.62% of the stock is owned by institutional investors.

Insider Activity at ABM Industries

In other news, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction dated 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 approximately $4,639,774.72. This represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

ABM Industries Price Performance

Shares of NYSE ABM opened at $53.17 on Friday. The firm has a market capitalization of $3.31 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.79 and a beta of 1.16. 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 stock’s 50-day simple moving average is $52.93 and its two-hundred day simple moving average is $53.65. ABM Industries Incorporated has a twelve month low of $39.72 and a twelve month high of $59.78.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm posted $1.01 earnings per share. ABM Industries’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Increases Dividend

The business also recently announced 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 is a positive change from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 1.99%. ABM Industries’s payout ratio is 83.47%.

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.