ABM Industries Incorporated (NYSE:ABM) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 16.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,476 shares of the business services provider's stock after selling 11,413 shares during the quarter. Wedge Capital Management L L P NC owned 0.09% of ABM Industries worth $2,980,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Inspire Investing LLC grew its stake in shares of ABM Industries by 12.4% in the third quarter. Inspire Investing LLC now owns 7,797 shares of the business services provider's stock valued at $411,000 after buying an additional 862 shares in the last quarter. CWM LLC increased its stake in ABM Industries by 108.8% during the third quarter. CWM LLC now owns 6,301 shares of the business services provider's stock worth $332,000 after purchasing an additional 3,284 shares during the period. GAMMA Investing LLC increased its stake in ABM Industries by 58.8% during the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider's stock worth $84,000 after purchasing an additional 589 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ABM Industries during the second quarter worth about $1,467,000. Finally, Creative Planning boosted its stake in shares of ABM Industries by 35.0% in the second quarter. Creative Planning now owns 20,996 shares of the business services provider's stock valued at $1,062,000 after purchasing an additional 5,448 shares during the period. Hedge funds and other institutional investors own 91.62% of the company's stock.

Insider Activity

In other 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Earl Ray Ellis sold 40,000 shares of the firm's 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 transaction, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott B. Salmirs sold 11,736 shares of the company's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total transaction of $646,418.88. Following the completion of the sale, the chief executive officer now owns 366,655 shares of the company's stock, valued at approximately $20,195,357.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. StockNews.com lowered ABM Industries from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. UBS Group upped their price target on ABM Industries from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. Finally, Truist Financial lifted their price objective on ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research note on Monday, September 9th.

ABM Industries Stock Up 1.3 %

Shares of ABM Industries stock traded up $0.71 during trading on Wednesday, hitting $53.92. 316,830 shares of the stock were exchanged, compared to its average volume of 573,490. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. The firm's 50-day moving average price is $52.95 and its 200 day moving average price is $50.03. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 14.10 and a beta of 1.14. ABM Industries Incorporated has a 12-month low of $38.48 and a 12-month 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 (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 business had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the prior year, the firm posted $0.79 EPS. The business's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts forecast that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.225 per share. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 annualized dividend and a dividend yield of 1.67%. ABM Industries's dividend payout ratio is presently 23.56%.

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.