Allspring Global Investments Holdings LLC Has $7.13 Million Stock Position in ABM Industries Incorporated (NYSE:ABM)

Allspring Global Investments Holdings LLC increased its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 21.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,085 shares of the business services provider's stock after buying an additional 24,137 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.22% of ABM Industries worth $7,127,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in ABM Industries during the second quarter worth about $125,118,000. LSV Asset Management lifted its stake in ABM Industries by 92.3% during the second quarter. LSV Asset Management now owns 760,321 shares of the business services provider's stock worth $38,449,000 after purchasing an additional 364,879 shares during the period. Bank of New York Mellon Corp lifted its stake in ABM Industries by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 656,652 shares of the business services provider's stock worth $33,207,000 after purchasing an additional 13,126 shares during the period. Pzena Investment Management LLC bought a new position in ABM Industries during the second quarter worth about $21,032,000. Finally, SG Capital Management LLC bought a new position in ABM Industries during the first quarter worth about $13,730,000. 91.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 shares were 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 of the company's stock, valued at approximately $2,442,229.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.04% of the company's stock.

Analyst Ratings Changes

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

ABM Industries Price Performance

Shares of NYSE:ABM traded up $0.96 during trading on Monday, reaching $53.71. The stock had a trading volume of 389,130 shares, compared to its average volume of 567,763. 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 stock has a market capitalization of $3.37 billion, a PE ratio of 13.81 and a beta of 1.14. The business's 50-day moving average price is $53.07 and its 200 day moving average price is $50.57. ABM Industries Incorporated has a 52 week low of $38.48 and a 52 week high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. ABM Industries's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. As a group, equities analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be issued 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 of this dividend is Thursday, October 3rd. ABM Industries's dividend payout ratio is presently 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.