Edgestream Partners L.P. Makes New $1.93 Million Investment in ABM Industries Incorporated (NYSE:ABM)

Edgestream Partners L.P. purchased a new position in ABM Industries Incorporated (NYSE:ABM - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,591 shares of the business services provider's stock, valued at approximately $1,931,000. Edgestream Partners L.P. owned 0.06% of ABM Industries at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. BOKF NA acquired a new stake in ABM Industries in the second quarter worth $30,000. Capital Performance Advisors LLP acquired a new stake in ABM Industries in the third quarter worth $30,000. Copeland Capital Management LLC acquired a new stake in ABM Industries in the third quarter worth $37,000. Lazard Asset Management LLC grew its holdings in ABM Industries by 2,102.0% in the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider's stock worth $48,000 after purchasing an additional 1,030 shares during the period. Finally, GAMMA Investing LLC grew its holdings in ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider's stock worth $51,000 after purchasing an additional 273 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABM has been the topic of a number of recent research reports. 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 note on Monday, September 9th. Robert W. Baird raised their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, September 9th. Finally, 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 note on Monday, September 9th.

Insider Activity at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This trade represents a 46.92 % 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 insiders.

ABM Industries Stock Down 2.5 %

Shares of ABM traded down $1.45 during trading hours on Tuesday, reaching $56.30. 268,819 shares of the stock traded hands, compared to its average volume of 284,637. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $54.44 and a 200 day simple moving average of $52.69. ABM Industries Incorporated has a 52 week low of $39.64 and a 52 week high of $59.78. 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 (NYSE:ABM - Get Free Report) last released its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the firm earned $0.79 earnings per share. The firm's revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

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