Bleakley Financial Group LLC Sells 72,568 Shares of ABM Industries Incorporated (NYSE:ABM)

Bleakley Financial Group LLC lowered its stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 91.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,596 shares of the business services provider's stock after selling 72,568 shares during the quarter. Bleakley Financial Group LLC's holdings in ABM Industries were worth $348,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. BOKF NA purchased a new stake in ABM Industries during the second quarter valued at about $30,000. Adirondack Trust Co. lifted its position in ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider's stock worth $35,000 after buying an additional 500 shares during the last quarter. GAMMA Investing LLC boosted its stake in ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider's stock worth $51,000 after buying an additional 273 shares in the last quarter. Lazard Asset Management LLC grew its position in ABM Industries by 2,102.0% during the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider's stock valued at $48,000 after acquiring an additional 1,030 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of ABM Industries during the second quarter worth approximately $142,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Stock Performance

Shares of NYSE:ABM opened at $53.44 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $53.12 and a 200-day moving average price of $50.37. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 13.99 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 results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.04 billion. During the same quarter in the prior year, the company posted $0.79 EPS. ABM Industries's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, October 3rd. ABM Industries's payout ratio is currently 23.56%.

Analyst Ratings Changes

Several research firms recently commented on ABM. UBS Group increased their target price on shares of ABM Industries from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, September 9th. StockNews.com downgraded ABM Industries from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. Robert W. Baird increased their target price on ABM Industries from $49.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, September 9th. Finally, Truist Financial lifted their price target on ABM Industries from $49.00 to $55.00 and gave the stock a "hold" rating in a research note on Monday, September 9th.

Insiders Place Their Bets

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated 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 sale, the chief financial officer now owns 45,260 shares of the company's stock, valued at approximately $2,442,229.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.04% of the company's stock.

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.