Charles Schwab Investment Management Inc. Has $35.93 Million Stock Position in ABM Industries Incorporated (NYSE:ABM)

Charles Schwab Investment Management Inc. increased its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 681,006 shares of the business services provider's stock after purchasing an additional 12,179 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.08% of ABM Industries worth $35,930,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ABM. Lazard Asset Management LLC grew its holdings in ABM Industries by 2,102.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider's stock valued at $48,000 after buying an additional 1,030 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in ABM Industries by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,717 shares of the business services provider's stock worth $1,773,000 after purchasing an additional 1,579 shares during the period. Tidal Investments LLC purchased a new position in shares of ABM Industries in the 1st quarter valued at about $220,000. Boston Partners grew its stake in ABM Industries by 152.2% during the 1st quarter. Boston Partners now owns 24,125 shares of the business services provider's stock worth $1,076,000 after buying an additional 14,560 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in ABM Industries by 37.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider's stock worth $51,000 after buying an additional 273 shares during the last quarter. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Price Performance

NYSE ABM traded down $1.45 on Tuesday, reaching $56.30. 268,819 shares of the stock traded hands, compared to its average volume of 284,637. The firm's fifty day simple moving average is $54.32 and its 200 day simple moving average is $52.62. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 23.26 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 released its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company's revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. As a group, research analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were issued a dividend of $0.225 per share. The ex-dividend date was Thursday, October 3rd. This represents a $0.90 annualized dividend and a dividend yield of 1.60%. ABM Industries's dividend payout ratio is 37.19%.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.04% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABM shares. Robert W. Baird raised their price target on ABM Industries from $49.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, September 9th. UBS Group lifted their price objective on ABM Industries from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, September 9th. Finally, Truist Financial lifted their price objective on ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, September 9th.

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.