Everence Capital Management Inc. Trims Stock Position in ABM Industries Incorporated (NYSE:ABM)

Everence Capital Management Inc. trimmed its holdings in ABM Industries Incorporated (NYSE:ABM) by 46.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,160 shares of the business services provider’s stock after selling 6,190 shares during the period. Everence Capital Management Inc.’s holdings in ABM Industries were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV boosted its position in shares of ABM Industries by 2.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock worth $900,000 after purchasing an additional 378 shares in the last quarter. Arizona State Retirement System raised its holdings in ABM Industries by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock valued at $896,000 after acquiring an additional 442 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ABM Industries by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 35,036 shares of the business services provider’s stock worth $1,772,000 after purchasing an additional 539 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of ABM Industries during the third quarter worth $30,000. Finally, Kovitz Investment Group Partners LLC grew its position in shares of ABM Industries by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,804 shares of the business services provider’s stock valued at $791,000 after purchasing an additional 588 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Stock Down 2.4 %

Shares of NYSE ABM opened at $50.70 on Tuesday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 20.95 and a beta of 1.16. ABM Industries Incorporated has a 1 year low of $39.64 and a 1 year high of $59.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The stock’s 50-day simple moving average is $54.71 and its 200-day simple moving average is $53.47.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate 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 net margin of 1.89% and a return on equity of 12.93%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. As a group, equities analysts anticipate that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.06 annualized dividend and a yield of 2.09%. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio is presently 83.46%.

Insiders Place Their Bets

In other ABM Industries 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 value of $2,158,400.00. Following the completion of the transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ABM has been the topic of several recent analyst reports. Truist Financial increased 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 lifted their price target on shares of ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Robert W. Baird increased their target price on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th.

ABM Industries Company 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.