Quest Partners LLC Has $497,000 Holdings in ABM Industries Incorporated (NYSE:ABM)

Quest Partners LLC lifted its position in ABM Industries Incorporated (NYSE:ABM) by 487.3% in the second quarter, HoldingsChannel.com reports. The firm owned 9,825 shares of the business services provider’s stock after acquiring an additional 8,152 shares during the period. Quest Partners LLC’s holdings in ABM Industries were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Adirondack Trust Co. raised its stake in shares of ABM Industries by 250.0% in the 2nd 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. Lazard Asset Management LLC raised its position in ABM Industries by 2,102.0% in the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,030 shares in the last quarter. GAMMA Investing LLC lifted its stake in ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after purchasing an additional 273 shares during the period. Clarity Asset Management Inc. acquired a new stake in ABM Industries during the fourth quarter valued at approximately $54,000. Finally, Principal Securities Inc. acquired a new stake in ABM Industries during the fourth quarter valued at approximately $80,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Trading Up 0.6 %

Shares of ABM opened at $49.36 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.44 and a current ratio of 1.38. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 12.92 and a beta of 1.14. The stock has a fifty day moving average price of $53.49 and a two-hundred day moving average price of $48.43. ABM Industries Incorporated has a 52-week low of $38.48 and a 52-week high of $59.78.

ABM Industries (NYSE:ABM) last released its quarterly earnings results 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. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts predict that ABM Industries Incorporated will post 3.49 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio is currently 23.56%.

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $51.67, for a total value of $2,066,800.00. Following the transaction, the chief operating officer now directly owns 72,062 shares in the company, valued at approximately $3,723,443.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Dean A. Chin sold 2,042 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $50.70, for a total value of $103,529.40. Following the transaction, the chief accounting officer now directly owns 18,493 shares in the company, valued at $937,595.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Rene Jacobsen sold 40,000 shares of ABM Industries stock in a transaction on Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the sale, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at approximately $3,723,443.54. The disclosure for this sale can be found here. Insiders sold 78,778 shares of company stock worth $4,039,248 in the last quarter. Insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ABM. Truist Financial raised their target price on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday. UBS Group boosted 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. StockNews.com cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird boosted their price target on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday.

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.