ABM Industries Incorporated (NYSE:ABM) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 138.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,810 shares of the business services provider's stock after purchasing an additional 14,977 shares during the quarter. Intech Investment Management LLC's holdings in ABM Industries were worth $1,362,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in ABM Industries during the third quarter worth $30,000. BOKF NA purchased a new position in shares of ABM Industries during the 2nd quarter worth about $30,000. Adirondack Trust Co. grew its holdings in ABM Industries by 250.0% during the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider's stock valued at $35,000 after purchasing an additional 500 shares during the last quarter. Copeland Capital Management LLC bought a new position in ABM Industries during the 3rd quarter valued at about $37,000. Finally, GAMMA Investing LLC raised its position 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 worth $51,000 after purchasing an additional 273 shares during the period. Institutional investors 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 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 sale, the chief financial officer now owns 45,260 shares of the company's stock, valued at $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.04% of the stock is currently owned by company insiders.

ABM Industries Trading Up 0.3 %

NYSE:ABM traded up $0.19 during midday trading on Wednesday, hitting $56.99. The stock had a trading volume of 240,460 shares, compared to its average volume of 542,852. 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 50-day moving average of $53.86 and a 200 day moving average of $52.31. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 23.47 and a beta of 1.14. ABM Industries Incorporated has a one year low of $39.64 and a one year high of $59.78.

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, topping 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 during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Stockholders of record on Thursday, October 3rd were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Thursday, October 3rd. ABM Industries's payout ratio is 37.19%.

Analysts Set New Price Targets

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

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.