ABM Industries Incorporated (NYSE:ABM) Shares Sold by Bleakley Financial Group LLC

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

Several other institutional investors have also modified their holdings of the business. Algert Global LLC grew its stake in shares of ABM Industries by 50.8% during the second quarter. Algert Global LLC now owns 200,497 shares of the business services provider's stock worth $10,139,000 after purchasing an additional 67,560 shares in the last quarter. Boston Partners grew its stake in shares of ABM Industries by 152.2% during the first quarter. Boston Partners now owns 24,125 shares of the business services provider's stock worth $1,076,000 after purchasing an additional 14,560 shares in the last quarter. SG Capital Management LLC acquired a new position in shares of ABM Industries during the first quarter worth $13,730,000. Janney Montgomery Scott LLC acquired a new position in shares of ABM Industries during the first quarter worth $481,000. Finally, Seven Eight Capital LP acquired a new position in shares of ABM Industries during the second quarter worth $614,000. Institutional investors and hedge funds own 91.62% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Earl Ray Ellis sold 40,000 shares of the 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 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.04% of the company's stock.

ABM Industries Stock Performance

ABM traded down $0.07 on Wednesday, reaching $53.36. The company had a trading volume of 304,656 shares, compared to its average volume of 570,095. The stock has a 50-day moving average price of $53.12 and a 200-day moving average price of $50.39. ABM Industries Incorporated has a 1 year low of $38.48 and a 1 year high of $59.78. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.35 billion, a PE ratio of 13.97 and a beta of 1.14.

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, beating 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 during the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The business's revenue was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be issued a $0.225 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.69%. ABM Industries's payout ratio is 23.56%.

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.