Citigroup Inc. Has $5.33 Million Holdings in ABM Industries Incorporated (NYSE:ABM)

Citigroup Inc. grew its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 51.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,006 shares of the business services provider's stock after buying an additional 34,254 shares during the period. Citigroup Inc. owned approximately 0.16% of ABM Industries worth $5,329,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BOKF NA bought a new position in ABM Industries during the 2nd quarter worth $30,000. Capital Performance Advisors LLP bought a new stake in ABM Industries during the third quarter worth about $30,000. Copeland Capital Management LLC bought a new stake in ABM Industries during the third quarter worth about $37,000. Lazard Asset Management LLC grew its stake in ABM Industries by 2,102.0% during the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider's stock worth $48,000 after buying an additional 1,030 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in ABM Industries by 37.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider's stock valued at $51,000 after buying an additional 273 shares during the period. Institutional investors and hedge funds own 91.62% of the company's stock.

Insider Buying and Selling

In related news, CFO Earl Ray Ellis sold 40,000 shares of the 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 in the company, valued at $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABM. Truist Financial upped their price target on shares of ABM Industries from $49.00 to $55.00 and gave the stock a "hold" rating in a report on Monday, September 9th. UBS Group lifted their price target on ABM Industries from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Monday, September 9th. Finally, Robert W. Baird boosted their price target on ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, September 9th.

ABM Industries Price Performance

Shares of ABM traded up $0.58 during mid-day trading on Monday, reaching $57.75. The company had a trading volume of 311,889 shares, compared to its average volume of 540,248. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 23.86 and a beta of 1.14. 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's 50 day simple moving average is $54.32 and its 200 day simple moving average is $52.62. ABM Industries Incorporated has a 1-year low of $39.64 and a 1-year high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the business earned $0.79 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts expect that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were issued a $0.225 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.56%. ABM Industries's dividend payout ratio (DPR) is presently 37.19%.

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.