Janney Montgomery Scott LLC Grows Stake in ABM Industries Incorporated (NYSE:ABM)

Janney Montgomery Scott LLC lifted its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 169.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,240 shares of the business services provider's stock after purchasing an additional 19,639 shares during the quarter. Janney Montgomery Scott LLC's holdings in ABM Industries were worth $1,648,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BOKF NA acquired a new stake in shares of ABM Industries in the 2nd quarter valued at 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 period. Copeland Capital Management LLC purchased a new stake in ABM Industries during the third quarter valued at about $37,000. GAMMA Investing LLC grew its position in ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider's stock valued at $51,000 after acquiring an additional 273 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of 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 buying an additional 1,030 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Stock Performance

Shares of ABM stock traded down $1.34 during trading hours on Thursday, reaching $55.58. 178,026 shares of the company's stock were exchanged, compared to its average volume of 554,805. The stock has a market capitalization of $3.49 billion, a P/E ratio of 22.97 and a beta of 1.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a fifty-two week low of $39.64 and a fifty-two week high of $59.78. The business has a fifty day moving average price of $52.98 and a 200-day moving average price of $51.58.

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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders 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 1.62%. The ex-dividend date was Thursday, October 3rd. ABM Industries's dividend payout ratio is currently 37.19%.

Wall Street Analyst Weigh In

ABM has been the topic of several recent analyst reports. StockNews.com cut ABM Industries from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. UBS Group increased their price objective on ABM Industries from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. Robert W. Baird increased their price target on ABM Industries from $49.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, September 9th. Finally, Truist Financial increased their price target on ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research note on Monday, September 9th.

Insider Buying and Selling

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction on 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 directly owns 45,260 shares of the company's stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is owned by corporate insiders.

ABM Industries Company 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.