Easterly Investment Partners LLC Purchases 12,243 Shares of ABM Industries Incorporated (NYSE:ABM)

Easterly Investment Partners LLC lifted its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242,140 shares of the business services provider's stock after purchasing an additional 12,243 shares during the period. ABM Industries accounts for about 1.0% of Easterly Investment Partners LLC's investment portfolio, making the stock its 29th biggest holding. Easterly Investment Partners LLC owned about 0.39% of ABM Industries worth $12,775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ABM. Commonwealth Equity Services LLC lifted its position in shares of ABM Industries by 171.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,782 shares of the business services provider's stock worth $615,000 after purchasing an additional 8,710 shares during the period. Janney Montgomery Scott LLC purchased a new position in ABM Industries during the 1st quarter valued at about $481,000. Daiwa Securities Group Inc. lifted its position in ABM Industries by 60.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 8,636 shares of the business services provider's stock valued at $386,000 after acquiring an additional 3,255 shares during the period. Jennison Associates LLC purchased a new position in ABM Industries during the 1st quarter valued at about $578,000. Finally, Duality Advisers LP lifted its position in ABM Industries by 93.8% during the 1st quarter. Duality Advisers LP now owns 48,088 shares of the business services provider's stock valued at $2,146,000 after acquiring an additional 23,278 shares during the period. 91.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Earl Ray Ellis sold 40,000 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the transaction, the chief financial officer now directly owns 45,260 shares of the company's stock, valued at $2,442,229.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of ABM Industries from $49.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, September 9th. StockNews.com cut shares of ABM Industries from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. Truist Financial lifted their price target 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. Finally, UBS Group lifted their target price on shares of ABM Industries from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, September 9th.

ABM Industries Stock Up 1.4 %

ABM Industries stock traded up $0.80 during trading hours on Friday, hitting $57.76. The stock had a trading volume of 338,875 shares, compared to its average volume of 558,772. 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 stock has a market capitalization of $3.63 billion, a P/E ratio of 23.53 and a beta of 1.14. ABM Industries Incorporated has a 12-month low of $39.27 and a 12-month high of $59.78. The stock's 50-day moving average price is $52.92 and its 200-day moving average price is $51.13.

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, beating 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 firm had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The firm's quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders 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 dividend yield of 1.56%. ABM Industries's payout ratio is 37.19%.

ABM Industries Company 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.