Axa S.A. Acquires 9,095 Shares of ABM Industries Incorporated (NYSE:ABM)

Axa S.A. lifted its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 21.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,062 shares of the business services provider’s stock after purchasing an additional 9,095 shares during the period. Axa S.A.’s holdings in ABM Industries were worth $2,582,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. bought a new stake in ABM Industries during the 2nd quarter valued at $125,118,000. Pzena Investment Management LLC purchased a new position in shares of ABM Industries in the second quarter valued at about $21,032,000. LSV Asset Management bought a new position in shares of ABM Industries during the first quarter valued at about $17,645,000. SG Capital Management LLC purchased a new stake in shares of ABM Industries during the first quarter worth about $13,730,000. Finally, Invenomic Capital Management LP purchased a new stake in ABM Industries in the 1st quarter worth approximately $10,071,000. 91.62% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Rene Jacobsen sold 40,000 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 72,062 shares in the company, valued at approximately $3,723,443.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Dean A. Chin sold 2,042 shares of the company’s 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 of the company’s stock, valued at approximately $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 over the last three months. Insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

ABM opened at $52.76 on Tuesday. ABM Industries Incorporated has a 1 year low of $38.48 and a 1 year high of $59.78. The stock has a 50-day moving average price of $53.44 and a 200-day moving average price of $49.37. The firm has a market cap of $3.31 billion, a PE ratio of 13.81 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. 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 EPS. Sell-side analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

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 issued a dividend of $0.225 per share. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 annualized dividend and a dividend yield of 1.71%. ABM Industries’s payout ratio is 23.56%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ABM shares. Robert W. Baird boosted their target price on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Truist Financial lifted their price objective on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, September 9th. StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, UBS Group raised their price objective on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research report 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.