Edgestream Partners L.P. Grows Holdings in ABM Industries Incorporated (NYSE:ABM)

Edgestream Partners L.P. grew its position in shares of ABM Industries Incorporated (NYSE:ABM) by 78.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 65,212 shares of the business services provider’s stock after purchasing an additional 28,621 shares during the quarter. Edgestream Partners L.P.’s holdings in ABM Industries were worth $3,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in ABM Industries by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider’s stock worth $76,582,000 after acquiring an additional 7,050 shares during the period. Pzena Investment Management LLC grew its position in shares of ABM Industries by 67.0% in the third quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider’s stock valued at $36,640,000 after purchasing an additional 278,575 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of ABM Industries by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 693,325 shares of the business services provider’s stock valued at $35,484,000 after purchasing an additional 12,319 shares during the period. Principal Financial Group Inc. lifted its position in ABM Industries by 4.3% during the fourth quarter. Principal Financial Group Inc. now owns 341,616 shares of the business services provider’s stock worth $17,484,000 after buying an additional 13,985 shares during the period. Finally, Rhumbline Advisers boosted its stake in ABM Industries by 1.3% in the 4th quarter. Rhumbline Advisers now owns 198,756 shares of the business services provider’s stock worth $10,172,000 after buying an additional 2,517 shares during the last quarter. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group upped 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.

ABM Industries Stock Up 5.3 %

Shares of NYSE ABM opened at $54.87 on Friday. The stock has a market capitalization of $3.41 billion, a PE ratio of 43.20, a P/E/G ratio of 2.75 and a beta of 1.13. 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 fifty day moving average of $52.69 and a 200-day moving average of $53.58. ABM Industries Incorporated has a 52-week low of $41.51 and a 52-week high of $59.78.

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 analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

Insider Transactions at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the transaction, the chief operating officer now directly owns 87,808 shares of the company’s stock, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the sale, 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 disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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.