Versor Investments LP Has $288,000 Stake in ABM Industries Incorporated (NYSE:ABM)

Versor Investments LP lessened its holdings in ABM Industries Incorporated (NYSE:ABM) by 60.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,700 shares of the business services provider’s stock after selling 8,603 shares during the period. Versor Investments LP’s holdings in ABM Industries were worth $288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Adirondack Trust Co. boosted its stake in shares of ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after buying an additional 500 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of ABM Industries by 37.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after buying an additional 273 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of ABM Industries by 2,102.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after buying an additional 1,030 shares during the last quarter. Clarity Asset Management Inc. purchased a new position in shares of ABM Industries in the 4th quarter worth approximately $54,000. Finally, Quest Partners LLC purchased a new position in shares of ABM Industries in the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ABM shares. StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Robert W. Baird upped their price objective on ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, June 10th. Finally, UBS Group upped their price objective on ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.80.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, 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 sale, the chief executive officer now owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ABM Industries news, 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 sale, the chief executive officer now owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief executive officer now directly owns 366,655 shares in the company, valued at approximately $20,195,357.40. The disclosure for this sale can be found here. Insiders have sold 78,778 shares of company stock valued at $4,039,248 in the last 90 days. 1.04% of the stock is currently owned by company insiders.

ABM Industries Price Performance

ABM Industries stock opened at $56.08 on Friday. ABM Industries Incorporated has a 12 month low of $37.61 and a 12 month high of $57.25. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The business’s 50 day simple moving average is $53.51 and its 200 day simple moving average is $48.10. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 14.68 and a beta of 1.16.

ABM Industries (NYSE:ABM) last issued its earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts forecast that ABM Industries Incorporated will post 3.46 EPS for the current year.

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.