Barclays PLC Increases Stake in ABM Industries Incorporated (NYSE:ABM)

Barclays PLC raised its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 238.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,850 shares of the business services provider's stock after buying an additional 80,238 shares during the period. Barclays PLC owned about 0.18% of ABM Industries worth $6,004,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ABM. Louisiana State Employees Retirement System raised its position in ABM Industries by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the business services provider's stock worth $1,608,000 after acquiring an additional 700 shares during the period. Bank of New York Mellon Corp lifted its stake 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. Allspring Global Investments Holdings LLC lifted its stake in ABM Industries by 652,535.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 110,948 shares of the business services provider's stock valued at $5,611,000 after buying an additional 110,931 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ABM Industries by 15.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,072 shares of the business services provider's stock worth $712,000 after buying an additional 1,856 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in ABM Industries during the 2nd quarter worth approximately $142,000. Institutional investors and hedge funds own 91.62% of the company's stock.

Insider Activity

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the sale, the chief financial officer now directly owns 45,260 shares of the company's stock, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.04% of the company's stock.

ABM Industries Trading Down 1.6 %

Shares of ABM stock traded down $0.80 during trading on Friday, hitting $50.34. 1,220,812 shares of the stock traded hands, compared to its average volume of 534,739. The firm has a market capitalization of $3.16 billion, a P/E ratio of 20.80 and a beta of 1.14. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. The firm's fifty day moving average price is $55.30 and its 200-day moving average price is $53.34.

ABM Industries (NYSE:ABM - Get Free Report) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. As a group, research analysts forecast that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from ABM Industries's previous quarterly dividend of $0.23. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.11%. ABM Industries's dividend payout ratio (DPR) is currently 83.46%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABM. Robert W. Baird raised their price target on shares of ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, September 9th. UBS Group boosted their target price on ABM Industries from $55.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Truist Financial upped their price target on ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, September 9th.

About ABM Industries

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.