Canada Pension Plan Investment Board Has $1.69 Million Stake in ABM Industries Incorporated (NYSE:ABM)

Canada Pension Plan Investment Board lowered its position in ABM Industries Incorporated (NYSE:ABM) by 75.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,400 shares of the business services provider’s stock after selling 100,800 shares during the period. Canada Pension Plan Investment Board’s holdings in ABM Industries were worth $1,689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after acquiring an additional 273 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in ABM Industries by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock worth $891,000 after purchasing an additional 324 shares in the last quarter. Arizona State Retirement System boosted its holdings in ABM Industries by 2.6% in the second quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock worth $896,000 after purchasing an additional 442 shares in the last quarter. Adirondack Trust Co. increased its position in ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after buying an additional 500 shares during the last quarter. Finally, BOKF NA bought a new position in ABM Industries during the second quarter valued at about $30,000. Institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $51.76 on Friday. ABM Industries Incorporated has a 12 month low of $38.48 and a 12 month high of $59.78. The company has a market cap of $3.25 billion, a P/E ratio of 13.55 and a beta of 1.14. The business’s 50 day moving average is $53.52 and its two-hundred day moving average is $49.12. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last issued its quarterly 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 firm 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 business’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. On average, equities analysts expect that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABM. Robert W. Baird increased their price objective on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, September 9th. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. UBS Group upped their price objective on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Truist Financial lifted their target price on shares of ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, September 9th.

Insider Activity at ABM Industries

In other news, CEO Scott B. Salmirs sold 25,000 shares of ABM Industries stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the sale, the chief executive officer now owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Dean A. Chin sold 2,042 shares of ABM Industries stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.70, for a total transaction of $103,529.40. Following the sale, the chief accounting officer now directly owns 18,493 shares in the company, valued at approximately $937,595.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the completion of the sale, the chief executive officer now directly owns 378,391 shares in the company, valued at approximately $18,503,319.90. The disclosure for this sale can be found here. Insiders have sold 78,778 shares of company stock worth $4,039,248 over the last three months. Company insiders own 1.04% of the company’s stock.

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.