Natixis Advisors LLC purchased a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,286 shares of the business services provider's stock, valued at approximately $543,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in shares of ABM Industries during the second quarter worth $125,118,000. LSV Asset Management grew its position in ABM Industries by 92.3% in the 2nd quarter. LSV Asset Management now owns 760,321 shares of the business services provider's stock valued at $38,449,000 after buying an additional 364,879 shares in the last quarter. Bank of New York Mellon Corp grew its position in ABM Industries by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 656,652 shares of the business services provider's stock valued at $33,207,000 after buying an additional 13,126 shares in the last quarter. Pzena Investment Management LLC bought a new position in ABM Industries in the 2nd quarter valued at about $21,032,000. Finally, Principal Financial Group Inc. grew its position in ABM Industries by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider's stock valued at $17,286,000 after buying an additional 15,438 shares in the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on ABM. UBS Group raised their price objective on shares of ABM Industries from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, September 9th. Truist Financial raised their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, September 9th. Robert W. Baird raised their target price on shares of ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. Finally, StockNews.com cut shares of ABM Industries from a "buy" rating to a "hold" rating in a report on Friday, August 2nd.
Read Our Latest Stock Analysis on ABM
ABM Industries Stock Up 0.3 %
Shares of NYSE ABM traded up $0.18 during mid-day trading on Friday, reaching $57.17. The company had a trading volume of 169,864 shares, compared to its average volume of 541,237. The stock has a fifty day moving average of $54.09 and a two-hundred day moving average of $52.37. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 23.55 and a beta of 1.14. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78.
ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.08. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, equities research analysts expect that ABM Industries Incorporated will post 3.53 EPS for the current year.
ABM Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.57%. ABM Industries's dividend payout ratio (DPR) is presently 37.19%.
Insider Buying and Selling at ABM Industries
In other news, CFO Earl Ray Ellis sold 40,000 shares of the firm's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the sale, the chief financial officer now owns 45,260 shares in the company, valued at approximately $2,442,229.60. This trade represents a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.04% of the company's stock.
About ABM Industries
(
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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