Northern Trust Corp Acquires 100,823 Shares of ABM Industries, Inc. (ABM)

Northern Trust Corp increased its holdings in ABM Industries, Inc. (NYSE:ABM) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,729,538 shares of the business services provider’s stock after acquiring an additional 100,823 shares during the quarter. Northern Trust Corp owned approximately 2.63% of ABM Industries worth $50,467,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Crossmark Global Holdings Inc. increased its holdings in shares of ABM Industries by 13.1% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 14,400 shares of the business services provider’s stock valued at $420,000 after acquiring an additional 1,670 shares during the period. Burney Co. increased its holdings in shares of ABM Industries by 25.5% in the 2nd quarter. Burney Co. now owns 8,629 shares of the business services provider’s stock valued at $252,000 after acquiring an additional 1,754 shares during the period. SG Americas Securities LLC increased its holdings in shares of ABM Industries by 51.9% in the 2nd quarter. SG Americas Securities LLC now owns 5,490 shares of the business services provider’s stock valued at $160,000 after acquiring an additional 1,875 shares during the period. Verition Fund Management LLC increased its holdings in shares of ABM Industries by 21.3% in the 1st quarter. Verition Fund Management LLC now owns 13,355 shares of the business services provider’s stock valued at $447,000 after acquiring an additional 2,343 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of ABM Industries by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 160,441 shares of the business services provider’s stock valued at $4,688,000 after acquiring an additional 2,415 shares during the period.

A number of equities analysts have recently commented on ABM shares. Zacks Investment Research cut shares of ABM Industries from a “hold” rating to a “sell” rating in a report on Friday, August 24th. Robert W. Baird cut shares of ABM Industries from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $36.00 to $40.00 in a report on Thursday, August 23rd. They noted that the move was a valuation call. TheStreet raised shares of ABM Industries from a “c+” rating to a “b-” rating in a report on Friday, September 14th. Finally, ValuEngine upgraded shares of ABM Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 28th.

In other ABM Industries news, SVP Dean A. Chin sold 5,682 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $33.60, for a total transaction of $190,915.20. Following the sale, the senior vice president now directly owns 32,847 shares in the company, valued at approximately $1,103,659.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott B. Salmirs sold 6,239 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $33.98, for a total transaction of $212,001.22. Following the sale, the insider now owns 120,693 shares in the company, valued at $4,101,148.14. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

NYSE:ABM opened at $30.52 on Friday. ABM Industries, Inc. has a 1-year low of $28.17 and a 1-year high of $44.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $2.12 billion, a P/E ratio of 17.44 and a beta of 0.73.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Thursday, September 6th. The business services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. ABM Industries had a net margin of 1.34% and a return on equity of 7.75%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the firm posted $0.51 EPS. ABM Industries’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts forecast that ABM Industries, Inc. will post 1.88 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Thursday, October 4th will be given a $0.175 dividend. The ex-dividend date is Wednesday, October 3rd. This represents a $0.70 dividend on an annualized basis and a yield of 2.29%. ABM Industries’s dividend payout ratio (DPR) is 40.00%.

ABM Industries Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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