Cubist Systematic Strategies LLC Sells 198,175 Shares of ABM Industries Incorporated (NYSE:ABM)

Cubist Systematic Strategies LLC lessened its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 69.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 89,183 shares of the business services provider’s stock after selling 198,175 shares during the period. Cubist Systematic Strategies LLC owned 0.14% of ABM Industries worth $4,510,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BOKF NA bought a new stake in ABM Industries during the second quarter valued at about $30,000. Adirondack Trust Co. boosted its stake in shares of ABM Industries by 250.0% in the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after acquiring an additional 500 shares during the period. GAMMA Investing LLC boosted its stake in shares of 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 during the period. Lazard Asset Management LLC boosted its stake in shares of 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 acquiring an additional 1,030 shares during the period. Finally, Clarity Asset Management Inc. bought a new position in shares of ABM Industries in the fourth quarter worth about $54,000. Institutional investors own 91.62% of the company’s stock.

Insider Activity

In other news, COO Rene Jacobsen sold 40,000 shares of the firm’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 value of $2,066,800.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Rene Jacobsen sold 40,000 shares of the firm’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 value of $2,066,800.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 18,493 shares of the company’s stock, valued at $937,595.10. The disclosure for this sale can be found here. Insiders sold 78,778 shares of company stock valued at $4,039,248 in the last ninety days. Insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

NYSE:ABM opened at $51.37 on Friday. 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 $3.22 billion, a P/E ratio of 13.45 and a beta of 1.14. ABM Industries Incorporated has a 12 month low of $38.48 and a 12 month high of $59.78. The business’s 50-day moving average is $53.47 and its 200 day moving average is $49.19.

ABM Industries (NYSE:ABM) last posted its earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 earnings per share. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The business 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 1.75%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s payout ratio is 23.56%.

Wall Street Analyst Weigh In

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

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.