ABM Industries Incorporated (NYSE:ABM) Stock Position Lifted by Barclays PLC

Barclays PLC lifted its position in ABM Industries Incorporated (NYSE:ABM) by 238.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,850 shares of the business services provider’s stock after acquiring an additional 80,238 shares during the quarter. Barclays PLC owned 0.18% of ABM Industries worth $6,004,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System boosted its holdings in ABM Industries by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the business services provider’s stock worth $1,608,000 after purchasing an additional 700 shares during the period. Bank of New York Mellon Corp grew its position in shares of ABM Industries by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 656,652 shares of the business services provider’s stock valued at $33,207,000 after buying an additional 13,126 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in ABM Industries by 652,535.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 110,948 shares of the business services provider’s stock worth $5,611,000 after acquiring an additional 110,931 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ABM Industries by 15.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,072 shares of the business services provider’s stock worth $712,000 after acquiring an additional 1,856 shares during the period. Finally, Innealta Capital LLC bought a new position in ABM Industries in the second quarter worth about $142,000. 91.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the transaction, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. This trade represents a 46.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABM. Robert W. Baird increased their price target on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. UBS Group increased their target price on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Truist Financial boosted 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.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $51.14 on Friday. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78. The company has a market cap of $3.21 billion, a PE ratio of 21.13 and a beta of 1.14. The stock has a 50 day simple moving average of $55.36 and a 200-day simple moving average of $53.32. 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 quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio is currently 43.80%.

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.