Daiwa Securities Group Inc. Acquires 1,351 Shares of ABM Industries Incorporated (NYSE:ABM)

Daiwa Securities Group Inc. increased its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,773 shares of the business services provider’s stock after buying an additional 1,351 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ABM Industries were worth $463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABM. BOKF NA acquired a new stake in shares of ABM Industries in the 2nd quarter valued at approximately $30,000. Capital Performance Advisors LLP bought a new position in ABM Industries in the 3rd quarter valued at approximately $30,000. Adirondack Trust Co. boosted its position in ABM Industries by 250.0% in the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after buying an additional 500 shares in the last quarter. Copeland Capital Management LLC bought a new stake in shares of ABM Industries during the third quarter worth $37,000. Finally, Lazard Asset Management LLC increased its holdings in shares of ABM Industries by 2,102.0% during the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after buying an additional 1,030 shares in the last quarter. Institutional investors own 91.62% of the company’s stock.

ABM Industries Trading Up 0.3 %

Shares of ABM stock opened at $57.17 on Friday. ABM Industries Incorporated has a 1-year low of $39.64 and a 1-year high of $59.78. 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 stock has a market cap of $3.59 billion, a price-to-earnings ratio of 23.62 and a beta of 1.14. The stock has a 50-day moving average of $54.19 and a 200-day moving average of $52.45.

ABM Industries (NYSE:ABM) last released its 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 the consensus estimate 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 in the prior year, the firm posted $0.79 EPS. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.57%. ABM Industries’s dividend payout ratio (DPR) is currently 37.19%.

Insiders Place Their Bets

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. This 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 link. Company insiders own 1.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ABM shares. UBS Group boosted their price objective on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Truist Financial upped their price objective on ABM Industries from $49.00 to $55.00 and gave the company a “hold” 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 stock 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.