DekaBank Deutsche Girozentrale Makes New $155,000 Investment in ABM Industries Incorporated (NYSE:ABM)

DekaBank Deutsche Girozentrale bought a new stake in ABM Industries Incorporated (NYSE:ABM) in the second quarter, Holdings Channel.com reports. The firm bought 3,126 shares of the business services provider’s stock, valued at approximately $155,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABM. BOKF NA purchased a new stake in ABM Industries during the 2nd quarter valued at about $30,000. Texas Permanent School Fund Corp lifted its position in ABM Industries by 5.2% during the second quarter. Texas Permanent School Fund Corp now owns 57,882 shares of the business services provider’s stock worth $2,927,000 after buying an additional 2,867 shares in the last quarter. Liberty Wealth Management LLC acquired a new position in ABM Industries during the second quarter worth $494,000. Quest Partners LLC grew its holdings in ABM Industries by 487.3% in the 2nd quarter. Quest Partners LLC now owns 9,825 shares of the business services provider’s stock valued at $497,000 after buying an additional 8,152 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of ABM Industries by 92.3% in the 2nd quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock worth $38,449,000 after acquiring an additional 364,879 shares during the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ABM Industries

In related news, CAO Dean A. Chin sold 2,042 shares of ABM Industries stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $50.70, for a total value of $103,529.40. Following the completion of the transaction, the chief accounting officer now directly owns 18,493 shares in the company, valued at $937,595.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Dean A. Chin sold 2,042 shares of ABM Industries 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 completion of the transaction, the chief accounting officer now owns 18,493 shares in the company, valued at $937,595.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Rene Jacobsen sold 40,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now 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. Over the last quarter, insiders sold 78,778 shares of company stock worth $4,039,248. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

ABM has been the topic of several recent research reports. 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, September 9th. UBS Group increased their price target on shares of ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Truist Financial lifted their price target 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. Finally, StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

ABM Industries Trading Up 0.5 %

Shares of ABM stock opened at $52.08 on Friday. The company has a 50-day moving average of $53.68 and a two-hundred day moving average of $48.92. The firm has a market cap of $3.27 billion, a PE ratio of 13.63 and a beta of 1.14. ABM Industries Incorporated has a 1-year low of $38.48 and a 1-year high of $59.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.44.

ABM Industries (NYSE:ABM) last announced its 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 company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s payout ratio is 23.56%.

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.