Kingsview Wealth Management LLC acquired a new position in ABM Industries Incorporated (NYSE:ABM - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 36,693 shares of the business services provider's stock, valued at approximately $1,936,000. Kingsview Wealth Management LLC owned 0.06% of ABM Industries as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABM. CANADA LIFE ASSURANCE Co lifted its position in ABM Industries by 5.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 74,268 shares of the business services provider's stock worth $3,314,000 after buying an additional 3,841 shares in the last quarter. Shell Asset Management Co. acquired a new position in ABM Industries during the 1st quarter worth approximately $241,000. Lazard Asset Management LLC grew its holdings in ABM Industries by 2,102.0% during 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. Price T Rowe Associates Inc. MD grew its holdings in ABM Industries by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,717 shares of the business services provider's stock worth $1,773,000 after acquiring an additional 1,579 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in ABM Industries during the 1st quarter worth approximately $220,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on ABM. StockNews.com lowered shares of ABM Industries from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. UBS Group raised their target price on shares of ABM Industries from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. Robert W. Baird upped their price target 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. Finally, Truist Financial increased their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, September 9th.
Check Out Our Latest Stock Analysis on ABM Industries
Insider Activity
In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the company's 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 sale, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.04% of the company's stock.
ABM Industries Trading Down 0.9 %
ABM Industries stock traded down $0.49 during mid-day trading on Tuesday, hitting $56.87. The company's stock had a trading volume of 99,799 shares, compared to its average volume of 542,936. The stock has a market cap of $3.57 billion, a PE ratio of 23.48 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. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The company has a 50 day moving average of $53.74 and a 200-day moving average of $52.23.
ABM Industries (NYSE:ABM - Get Free Report) last issued its earnings results on Friday, September 6th. The business services provider reported $0.94 EPS 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 business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the firm earned $0.79 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current year.
ABM Industries Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 annualized dividend and a dividend yield of 1.58%. ABM Industries's dividend payout ratio is currently 37.19%.
About ABM Industries
(
Free Report)
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.
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