Cable Hill Partners LLC Makes New Investment in ABM Industries Incorporated (NYSE:ABM)

Cable Hill Partners LLC acquired a new position in shares of ABM Industries Incorporated (NYSE:ABM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,512 shares of the business services provider’s stock, valued at approximately $231,000.

A number of other hedge funds also recently made changes to their positions in ABM. Creative Planning raised its stake in shares of ABM Industries by 20.8% during the 3rd quarter. Creative Planning now owns 25,370 shares of the business services provider’s stock worth $1,339,000 after purchasing an additional 4,374 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of ABM Industries by 34.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,688 shares of the business services provider’s stock worth $300,000 after purchasing an additional 1,473 shares during the period. Pallas Capital Advisors LLC bought a new stake in shares of ABM Industries during the 3rd quarter worth $210,000. Creative Financial Designs Inc. ADV raised its stake in shares of ABM Industries by 2.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock worth $900,000 after purchasing an additional 378 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of ABM Industries by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,781 shares of the business services provider’s stock worth $358,000 after purchasing an additional 838 shares during the period. 91.62% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Rene Jacobsen sold 10,000 shares of the company’s 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 sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Dean A. Chin sold 4,281 shares of the company’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 sale, the chief accounting officer now 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. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ABM Industries Trading Up 0.1 %

Shares of ABM Industries stock opened at $53.93 on Friday. ABM Industries Incorporated has a 52-week low of $40.50 and a 52-week high of $59.78. The stock’s 50-day simple moving average is $52.34 and its 200 day simple moving average is $53.59. The stock 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. 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 (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the business posted $1.01 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a dividend yield of 1.97%. ABM Industries’s dividend payout ratio is currently 83.46%.

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.