Empowered Funds LLC Buys Shares of 37,575 ABM Industries Incorporated (NYSE:ABM)

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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other large investors have also added to or reduced their stakes in ABM. BOKF NA purchased a new position in shares of ABM Industries in the 2nd quarter worth about $30,000. Capital Performance Advisors LLP purchased a new stake in ABM Industries in the third quarter worth approximately $30,000. Adirondack Trust Co. grew its position in ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider's stock valued at $35,000 after acquiring an additional 500 shares during the last quarter. Copeland Capital Management LLC purchased a new position in shares of ABM Industries during the third quarter worth approximately $37,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of 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 worth $48,000 after acquiring an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company's stock.

Analyst Upgrades and Downgrades

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

ABM Industries Stock Performance

Shares of NYSE:ABM opened at $55.58 on Thursday. 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 company has a 50-day moving average price of $53.39 and a 200-day moving average price of $51.93. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 22.97 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 announced its earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.08. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, October 3rd. ABM Industries's dividend payout ratio is currently 37.19%.

Insider Buying and Selling

In other news, CFO Earl Ray Ellis sold 40,000 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 45,260 shares in the company, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.04% of the stock is owned by insiders.

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.