ABM Industries Incorporated (NYSE:ABM) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC decreased its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 18.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,462 shares of the business services provider’s stock after selling 1,468 shares during the quarter. Verdence Capital Advisors LLC’s holdings in ABM Industries were worth $341,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ABM. Pacer Advisors Inc. bought a new stake in shares of ABM Industries in the 2nd quarter worth approximately $125,118,000. Pzena Investment Management LLC bought a new stake in ABM Industries in the second quarter valued at $21,032,000. LSV Asset Management boosted its holdings in shares of ABM Industries by 92.3% during the second quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock valued at $38,449,000 after acquiring an additional 364,879 shares during the period. SG Capital Management LLC bought a new position in shares of ABM Industries during the first quarter worth about $13,730,000. Finally, Invenomic Capital Management LP bought a new position in ABM Industries in the 1st quarter worth about $10,071,000. Institutional investors own 91.62% of the company’s stock.

Insider Buying and Selling

In related news, CFO Earl Ray Ellis sold 40,000 shares of the 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 transaction, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.04% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $58.61 on Tuesday. ABM Industries Incorporated has a 1 year low of $39.43 and a 1 year high of $59.78. The firm has a market cap of $3.68 billion, a P/E ratio of 24.22 and a beta of 1.14. The stock has a fifty day moving average price of $52.96 and a two-hundred day moving average price of $51.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the business earned $0.79 earnings per share. ABM Industries’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, October 3rd. ABM Industries’s dividend payout ratio is presently 37.19%.

Analyst Ratings Changes

ABM has been the subject of several analyst reports. StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Truist Financial increased 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. Robert W. Baird lifted their price objective 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. Finally, 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 research report on Monday, September 9th.

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.