Intech Investment Management LLC Increases Position in ABM Industries Incorporated (NYSE:ABM)

Intech Investment Management LLC grew its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 138.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 25,810 shares of the business services provider’s stock after acquiring an additional 14,977 shares during the period. Intech Investment Management LLC’s holdings in ABM Industries were worth $1,362,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pzena Investment Management LLC increased its position in ABM Industries by 67.0% during the 3rd quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider’s stock valued at $36,640,000 after buying an additional 278,575 shares in the last quarter. Jennison Associates LLC grew its stake in shares of ABM Industries by 9.0% in the third quarter. Jennison Associates LLC now owns 22,616 shares of the business services provider’s stock worth $1,193,000 after acquiring an additional 1,858 shares during the last quarter. Pathstone Holdings LLC increased its holdings in shares of ABM Industries by 3.0% during the third quarter. Pathstone Holdings LLC now owns 84,591 shares of the business services provider’s stock valued at $4,463,000 after acquiring an additional 2,448 shares in the last quarter. Quest Partners LLC raised its position in shares of ABM Industries by 54.7% in the 3rd quarter. Quest Partners LLC now owns 15,204 shares of the business services provider’s stock worth $802,000 after purchasing an additional 5,379 shares during the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in ABM Industries in the 3rd quarter worth about $626,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction 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 transaction, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This trade represents a 46.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

ABM has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on shares of 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 boosted their price objective 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. UBS Group increased their target price on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

ABM Industries Stock Down 1.0 %

ABM opened at $56.80 on Wednesday. ABM Industries Incorporated has a twelve month low of $39.64 and a twelve month high of $59.78. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average price of $53.74 and a 200-day moving average price of $52.23. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.47 and a beta of 1.14.

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

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd were given a $0.225 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.58%. ABM Industries’s payout ratio is 37.19%.

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.