3,953 Shares in ABM Industries Incorporated (NYSE:ABM) Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC bought a new position in ABM Industries Incorporated (NYSE:ABM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 3,953 shares of the business services provider’s stock, valued at approximately $210,000.

Other large investors have also recently modified their holdings of the company. BOKF NA purchased a new position in shares of ABM Industries in the second quarter worth about $30,000. Adirondack Trust Co. increased 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 purchasing an additional 500 shares in the last quarter. Copeland Capital Management LLC purchased a new position in shares of ABM Industries in the third quarter worth about $37,000. Lazard Asset Management LLC increased 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 purchasing an additional 1,030 shares in the last quarter. Finally, GAMMA Investing LLC increased 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 purchasing an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Analyst Upgrades and Downgrades

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

ABM Industries Price Performance

Shares of NYSE:ABM opened at $53.13 on Friday. The company has a 50 day moving average of $52.99 and a 200 day moving average of $50.75. The stock has a market cap of $3.34 billion, a P/E ratio of 21.95 and a beta of 1.14. ABM Industries Incorporated has a 12 month low of $39.27 and a 12 month high of $59.78. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71.

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 the consensus estimate of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the business posted $0.79 earnings per share. ABM Industries’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.69%. ABM Industries’s payout ratio is presently 37.19%.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the sale, the chief financial officer now directly owns 45,260 shares in the company, valued at $2,442,229.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.04% of the stock is currently owned by company insiders.

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.