ABM Industries Incorporated (NYSE:ABM) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 279.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,067 shares of the business services provider's stock after acquiring an additional 79,587 shares during the period. Victory Capital Management Inc. owned approximately 0.17% of ABM Industries worth $5,702,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Algert Global LLC increased its holdings in shares of ABM Industries by 50.8% in 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 during the last quarter. Boston Partners raised its holdings in shares of ABM Industries by 152.2% during the 1st 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 in the last quarter. SG Capital Management LLC purchased a new position in shares of ABM Industries in the first quarter valued at $13,730,000. Seven Eight Capital LP purchased a new stake in ABM Industries during the second quarter valued at $614,000. Finally, Thrivent Financial for Lutherans lifted its position in ABM Industries by 86.7% during the second quarter. Thrivent Financial for Lutherans now owns 101,793 shares of the business services provider's stock valued at $5,148,000 after purchasing an additional 47,260 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company's stock.

Insider Buying and Selling

In other news, CFO Earl Ray Ellis sold 40,000 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value 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 $2,442,229.60. This trade represents a 46.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial boosted their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, September 9th. Robert W. Baird boosted 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. StockNews.com downgraded shares of ABM Industries from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. Finally, UBS Group boosted their price objective 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.

ABM Industries Stock Up 0.7 %

Shares of NYSE:ABM traded up $0.41 during trading hours on Friday, hitting $56.79. The company's stock had a trading volume of 243,651 shares, compared to its average volume of 316,873. 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 fifty day moving average price is $53.64 and its 200 day moving average price is $52.04. ABM Industries Incorporated has a 52 week low of $39.64 and a 52 week high of $59.78. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.47 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion for 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%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. As a group, research analysts expect that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, October 3rd. ABM Industries's payout ratio is currently 37.19%.

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.