Farther Finance Advisors LLC Lowers Holdings in ABM Industries Incorporated (NYSE:ABM)

Farther Finance Advisors LLC decreased its stake in ABM Industries Incorporated (NYSE:ABM) by 35.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,408 shares of the business services provider’s stock after selling 2,373 shares during the period. Farther Finance Advisors LLC’s holdings in ABM Industries were worth $226,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of ABM Industries in the 4th quarter worth $33,000. Adirondack Trust Co. increased its holdings in shares of ABM Industries by 28.6% in the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after buying an additional 200 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of ABM Industries by 193.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock worth $46,000 after buying an additional 595 shares during the last quarter. Quarry LP increased its holdings in shares of ABM Industries by 49.7% in the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after buying an additional 721 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of ABM Industries by 60.9% in the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock worth $144,000 after buying an additional 1,067 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

Insiders Place Their Bets

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the sale, the chief operating officer now owns 87,808 shares of the company’s stock, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 18,681 shares in the company, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

ABM Industries Price Performance

ABM stock opened at $47.32 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. ABM Industries Incorporated has a 52 week low of $42.63 and a 52 week high of $59.78. The firm’s fifty day moving average is $52.17 and its 200 day moving average is $53.13. The firm has a market cap of $2.94 billion, a P/E ratio of 37.26, a P/E/G ratio of 2.75 and a beta of 1.13.

ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.90 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 company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the firm earned $1.01 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 84.13%.

Analyst Ratings Changes

Separately, UBS Group decreased their price target on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th.

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.