ABM Industries, Inc. (ABM) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its holdings in ABM Industries, Inc. (NYSE:ABM) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 156,372 shares of the business services provider’s stock after selling 2,940 shares during the quarter. Prudential Financial Inc.’s holdings in ABM Industries were worth $5,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ABM. FMR LLC raised its position in shares of ABM Industries by 117.2% in the third quarter. FMR LLC now owns 6,861,160 shares of the business services provider’s stock valued at $221,272,000 after buying an additional 3,702,812 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of ABM Industries in the fourth quarter valued at about $53,401,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of ABM Industries in the fourth quarter valued at about $25,000. Dimensional Fund Advisors LP raised its position in shares of ABM Industries by 15.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,993,373 shares of the business services provider’s stock valued at $128,786,000 after buying an additional 537,375 shares during the last quarter. Finally, Boston Partners raised its position in shares of ABM Industries by 60.0% in the fourth quarter. Boston Partners now owns 1,083,605 shares of the business services provider’s stock valued at $34,795,000 after buying an additional 406,334 shares during the last quarter.

Get ABM Industries alerts:

In related news, EVP Rene Jacobsen sold 6,896 shares of the firm’s stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $34.09, for a total transaction of $235,084.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Chavez sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $34.62, for a total transaction of $103,860.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,609 shares of company stock valued at $549,240. 0.94% of the stock is owned by company insiders.

A number of brokerages have recently commented on ABM. Sidoti reduced their target price on shares of ABM Industries from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, December 11th. Zacks Investment Research upgraded shares of ABM Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. CL King cut shares of ABM Industries from a “buy” rating to a “neutral” rating in a research report on Friday, January 11th. TheStreet upgraded shares of ABM Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, January 16th. Finally, Robert W. Baird set a $37.00 target price on shares of ABM Industries and gave the company a “hold” rating in a research report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. ABM Industries currently has a consensus rating of “Hold” and an average target price of $41.67.

ABM Industries stock opened at $33.50 on Tuesday. ABM Industries, Inc. has a 12-month low of $25.64 and a 12-month high of $38.37. The stock has a market cap of $2.16 billion, a P/E ratio of 17.72 and a beta of 0.57. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.62.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, March 6th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. ABM Industries had a net margin of 1.52% and a return on equity of 8.70%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business earned $0.26 earnings per share. ABM Industries’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts predict that ABM Industries, Inc. will post 1.97 earnings per share for the current year.

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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.15%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s payout ratio is currently 38.10%.

ILLEGAL ACTIVITY WARNING: This report was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/4215588/abm-industries-inc-abm-shares-sold-by-prudential-financial-inc.html.

ABM Industries Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.

Read More: Quick Ratio

Want to see what other hedge funds are holding ABM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ABM Industries, Inc. (NYSE:ABM).