ABM Industries Incorporated (NYSE:ABM) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,631 shares of the business services provider's stock after acquiring an additional 15,438 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of ABM Industries worth $17,286,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Algert Global LLC increased its holdings in shares of ABM Industries by 50.8% in the 2nd 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 holdings in shares of ABM Industries by 152.2% in the first quarter. Boston Partners now owns 24,125 shares of the business services provider's stock worth $1,076,000 after acquiring an additional 14,560 shares during the period. SG Capital Management LLC bought a new stake in shares of ABM Industries during the 1st quarter valued at about $13,730,000. Janney Montgomery Scott LLC bought a new stake in shares of ABM Industries during the 1st quarter valued at $481,000. Finally, Seven Eight Capital LP purchased a new stake in shares of ABM Industries in the 2nd quarter worth $614,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Price Performance

Shares of ABM stock traded down $0.55 during mid-day trading on Friday, hitting $55.03. The company had a trading volume of 73,731 shares, compared to its average volume of 552,637. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78. 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's 50 day moving average price is $52.98 and its 200-day moving average price is $51.58. The company has a market capitalization of $3.46 billion, a P/E ratio of 22.97 and a beta of 1.14.

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

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.64%. The ex-dividend date was Thursday, October 3rd. ABM Industries's payout ratio is 37.19%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial boosted their price target on ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a report 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. 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, 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.

Insider Buying and Selling at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the sale, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. This trade represents a 46.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.04% of the company's stock.

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.