Miracle Mile Advisors LLC Takes $392,000 Position in ABM Industries Incorporated (NYSE:ABM)

Miracle Mile Advisors LLC purchased a new stake in ABM Industries Incorporated (NYSE:ABMFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,660 shares of the business services provider’s stock, valued at approximately $392,000.

Other hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new position in shares of ABM Industries in the 2nd quarter valued at approximately $155,000. Hsbc Holdings PLC boosted its holdings in shares of ABM Industries by 26.5% during the 2nd quarter. Hsbc Holdings PLC now owns 43,740 shares of the business services provider’s stock valued at $2,203,000 after buying an additional 9,161 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of ABM Industries in the 2nd quarter worth about $614,000. XTX Topco Ltd increased its stake in shares of ABM Industries by 44.5% in the 2nd quarter. XTX Topco Ltd now owns 6,732 shares of the business services provider’s stock worth $340,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in ABM Industries during the second quarter worth about $548,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group raised their target price 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.

Read Our Latest Report on ABM Industries

Insiders Place Their Bets

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction that occurred on Tuesday, January 14th. The shares were 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 owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.04% of the stock is owned by insiders.

ABM Industries Stock Up 0.9 %

NYSE:ABM opened at $53.44 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $3.32 billion, a P/E ratio of 42.08, a P/E/G ratio of 2.63 and a beta of 1.16. ABM Industries Incorporated has a fifty-two week low of $39.64 and a fifty-two week high of $59.78. The firm has a 50-day simple moving average of $54.26 and a two-hundred day simple moving average of $53.48.

ABM Industries (NYSE:ABMGet Free Report) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.98%. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, January 2nd. ABM Industries’s dividend payout ratio (DPR) is presently 83.47%.

ABM Industries Company Profile

(Free Report)

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.

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

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