ABM Industries Incorporated (NYSE:ABM) Shares Purchased by Jane Street Group LLC

Jane Street Group LLC lifted its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 91.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,094 shares of the business services provider's stock after purchasing an additional 39,300 shares during the quarter. Jane Street Group LLC owned about 0.13% of ABM Industries worth $4,331,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in ABM Industries during the 2nd quarter valued at approximately $125,118,000. Pzena Investment Management LLC acquired a new position in shares of ABM Industries in the 2nd quarter valued at $21,032,000. LSV Asset Management raised its stake in ABM Industries by 92.3% in the 2nd quarter. LSV Asset Management now owns 760,321 shares of the business services provider's stock worth $38,449,000 after acquiring an additional 364,879 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in ABM Industries by 652,535.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 110,948 shares of the business services provider's stock worth $5,611,000 after acquiring an additional 110,931 shares during the period. Finally, Victory Capital Management Inc. grew its stake in ABM Industries by 279.4% during the 3rd quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider's stock valued at $5,702,000 after purchasing an additional 79,587 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Stock Performance

ABM traded down $4.59 during midday trading on Wednesday, hitting $50.32. 1,020,256 shares of the company were exchanged, compared to its average volume of 531,422. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 20.79 and a beta of 1.14. The company's 50 day simple moving average is $55.42 and its 200 day simple moving average is $53.36. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 1-year low of $39.64 and a 1-year high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company earned $1.01 earnings per share. ABM Industries's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a $0.265 dividend. This is a boost from ABM Industries's previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, January 2nd. ABM Industries's payout ratio is currently 43.80%.

Insider Buying and Selling

In related news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated Monday, October 14th. The stock was 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. The trade was a 46.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABM shares. Robert W. Baird raised their price objective on ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, September 9th. Truist Financial increased their price target on shares of ABM Industries from $49.00 to $55.00 and gave the stock a "hold" rating in a report on Monday, September 9th. Finally, UBS Group lifted 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.

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.