Swiss National Bank decreased its holdings in shares of ABM Industries Incorporated (NYSE:ABM – Free Report) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,600 shares of the business services provider’s stock after selling 1,900 shares during the quarter. Swiss National Bank’s holdings in ABM Industries were worth $6,468,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of ABM Industries by 5.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 74,268 shares of the business services provider’s stock worth $3,314,000 after purchasing an additional 3,841 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in ABM Industries by 2,102.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,030 shares during the period. Price T Rowe Associates Inc. MD grew its position in ABM Industries by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,717 shares of the business services provider’s stock valued at $1,773,000 after acquiring an additional 1,579 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of ABM Industries during the first quarter valued at approximately $220,000. Finally, Burney Co. lifted its position in shares of ABM Industries by 5.2% during the first quarter. Burney Co. now owns 15,195 shares of the business services provider’s stock worth $678,000 after purchasing an additional 748 shares in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Truist Financial raised their target price on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, September 9th. UBS Group boosted their price target on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, Robert W. Baird raised their price objective on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th.
Insider Buying and Selling
In other 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 of the company’s stock, valued at approximately $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.04% of the company’s stock.
ABM Industries Price Performance
Shares of NYSE ABM opened at $56.80 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. 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 Incorporated has a twelve month low of $39.64 and a twelve month high of $59.78. The business has a 50 day simple moving average of $53.74 and a 200-day simple moving average of $52.23.
ABM Industries (NYSE:ABM – Get Free Report) last released its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 1.89% and a return on equity of 12.93%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. As a group, equities research analysts expect that ABM Industries Incorporated will post 3.53 earnings per share for the current year.
ABM Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.225 per share. The ex-dividend date was Thursday, October 3rd. This represents a $0.90 annualized dividend and a dividend yield of 1.58%. ABM Industries’s dividend payout ratio is presently 37.19%.
About ABM Industries
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.
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