Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 5,000 Shares of ABM Industries Incorporated (NYSE:ABM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 62.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,000 shares of the business services provider’s stock after selling 5,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in ABM Industries were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ABM. Exchange Traded Concepts LLC bought a new position in shares of ABM Industries during the 4th quarter valued at about $48,000. Quantbot Technologies LP bought a new position in shares of ABM Industries during the 3rd quarter valued at about $151,000. Covestor Ltd boosted its holdings in shares of ABM Industries by 50.7% during the 3rd quarter. Covestor Ltd now owns 3,788 shares of the business services provider’s stock valued at $152,000 after purchasing an additional 1,275 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of ABM Industries by 114.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,942 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 2,639 shares during the last quarter. Finally, Violich Capital Management Inc. bought a new position in shares of ABM Industries during the 4th quarter valued at about $206,000. Institutional investors own 91.62% of the company’s stock.

Insider Transactions at ABM Industries

In other news, COO Rene Jacobsen sold 5,563 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $43.59, for a total transaction of $242,491.17. Following the transaction, the chief operating officer now directly owns 111,677 shares in the company, valued at $4,868,000.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Rene Jacobsen sold 5,563 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $43.59, for a total transaction of $242,491.17. Following the completion of the transaction, the chief operating officer now directly owns 111,677 shares in the company, valued at $4,868,000.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the completion of the transaction, the chief accounting officer now owns 19,972 shares of the company’s stock, valued at approximately $896,543.08. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Stock Performance

ABM Industries stock opened at $44.65 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48. ABM Industries Incorporated has a 1-year low of $37.61 and a 1-year high of $53.05. The firm has a market capitalization of $2.83 billion, a P/E ratio of 11.42 and a beta of 1.16. The company’s 50-day moving average is $42.67 and its 200 day moving average is $42.40.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts forecast that ABM Industries Incorporated will post 3.37 EPS for the current year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is currently 23.02%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.20.

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.