Xponance Inc. Buys Shares of 4,042 ABM Industries Incorporated (NYSE:ABM)

Xponance Inc. bought a new stake in ABM Industries Incorporated (NYSE:ABM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,042 shares of the business services provider’s stock, valued at approximately $204,000.

Several other hedge funds have also recently bought and sold shares of the company. Evergreen Capital Management LLC bought a new stake in shares of ABM Industries during the 2nd quarter valued at approximately $242,000. Public Sector Pension Investment Board grew its holdings in shares of ABM Industries by 8.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 139,237 shares of the business services provider’s stock valued at $7,041,000 after purchasing an additional 10,387 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of ABM Industries by 86.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 101,793 shares of the business services provider’s stock valued at $5,148,000 after purchasing an additional 47,260 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of ABM Industries during the 2nd quarter valued at approximately $125,118,000. Finally, Intech Investment Management LLC bought a new stake in shares of ABM Industries during the 2nd quarter valued at approximately $548,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Trading Down 0.2 %

ABM opened at $51.55 on Thursday. ABM Industries Incorporated has a fifty-two week low of $38.48 and a fifty-two week 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 1.38. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 13.49 and a beta of 1.14. The company’s 50 day moving average price is $53.39 and its two-hundred day moving average price is $49.43.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. The firm had revenue of $2.09 billion for 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 company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 EPS. As a group, research analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be given a $0.225 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.75%. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

Insider Transactions at ABM Industries

In other news, CEO Scott B. Salmirs sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the transaction, the chief executive officer now owns 378,391 shares in the company, valued at approximately $18,503,319.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Scott B. Salmirs sold 11,736 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total transaction of $646,418.88. Following the transaction, the chief executive officer now owns 366,655 shares in the company, valued at approximately $20,195,357.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 378,391 shares in the company, valued at approximately $18,503,319.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,778 shares of company stock worth $4,039,248. Company insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

ABM has been the topic of several research reports. 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 report on Monday, September 9th. Robert W. Baird boosted their target price on shares of ABM Industries from $49.00 to $56.00 and gave the stock 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 report on Friday, August 2nd. Finally, UBS Group boosted their target price 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.

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.