37,575 Shares in ABM Industries Incorporated (NYSE:ABM) Bought by Empowered Funds LLC

Empowered Funds LLC bought a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,575 shares of the business services provider's stock, valued at approximately $1,982,000. Empowered Funds LLC owned about 0.06% of ABM Industries as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of ABM Industries by 83.8% during the first quarter. SG Americas Securities LLC now owns 5,170 shares of the business services provider's stock worth $231,000 after purchasing an additional 2,357 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of ABM Industries by 21.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,982 shares of the business services provider's stock worth $1,033,000 after purchasing an additional 4,070 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of ABM Industries during the first quarter worth about $225,000. UniSuper Management Pty Ltd bought a new stake in shares of ABM Industries during the first quarter worth about $710,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of ABM Industries by 5.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 74,268 shares of the business services provider's stock worth $3,314,000 after purchasing an additional 3,841 shares during the last quarter. Institutional investors own 91.62% of the company's stock.

Analysts Set New Price Targets

ABM has been the topic of several research reports. 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. UBS Group upped their target price on ABM Industries from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, September 9th. Truist Financial upped their target price on ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a report on Monday, September 9th. Finally, StockNews.com cut ABM Industries from a "buy" rating to a "hold" rating in a report on Friday, August 2nd.

Insider Activity

In other ABM Industries 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 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 approximately $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.04% of the stock is currently owned by corporate insiders.

ABM Industries Trading Up 1.5 %

ABM traded up $0.85 during trading on Thursday, hitting $56.43. The company's stock had a trading volume of 126,227 shares, compared to its average volume of 547,342. ABM Industries Incorporated has a twelve month low of $39.64 and a twelve month high of $59.78. 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's fifty day moving average price is $53.39 and its 200-day moving average price is $51.93. The firm has a market capitalization of $3.54 billion, a P/E ratio of 23.33 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. Analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Thursday, October 3rd. ABM Industries's dividend payout ratio is presently 37.19%.

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.