Bokf Na Takes Position in ABM Industries Incorporated (NYSE:ABM)

Bokf Na purchased a new position in ABM Industries Incorporated (NYSE:ABM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 600 shares of the business services provider’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp lifted its position in shares of ABM Industries by 5.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,882 shares of the business services provider’s stock worth $2,927,000 after buying an additional 2,867 shares during the period. Liberty Wealth Management LLC bought a new position in shares of ABM Industries during the second quarter valued at $494,000. Quest Partners LLC boosted its stake in shares of ABM Industries by 487.3% in the 2nd quarter. Quest Partners LLC now owns 9,825 shares of the business services provider’s stock valued at $497,000 after purchasing an additional 8,152 shares in the last quarter. LSV Asset Management boosted its stake in shares of ABM Industries by 92.3% in the 2nd quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock valued at $38,449,000 after purchasing an additional 364,879 shares in the last quarter. Finally, Savant Capital LLC grew its holdings in shares of ABM Industries by 93.3% in the 2nd quarter. Savant Capital LLC now owns 11,290 shares of the business services provider’s stock worth $571,000 after purchasing an additional 5,450 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

ABM Industries Price Performance

ABM opened at $50.95 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.44. The stock has a market capitalization of $3.20 billion, a P/E ratio of 13.34 and a beta of 1.14. The company’s 50 day simple moving average is $53.56 and its 200-day simple moving average is $48.69. ABM Industries Incorporated has a one year low of $38.48 and a one year high of $59.78.

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

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s dividend payout ratio is 23.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Robert W. Baird boosted their price target on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. UBS Group increased their price target on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Truist Financial raised their price target on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th. Finally, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

Insider Buying and Selling

In other ABM Industries news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the transaction, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Rene Jacobsen sold 40,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the transaction, the chief operating officer now directly owns 72,062 shares in the company, valued at approximately $3,723,443.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 378,391 shares in the company, valued at $18,503,319.90. The disclosure for this sale can be found here. Insiders sold a total of 78,778 shares of company stock valued at $4,039,248 over the last ninety days. Insiders own 1.04% of the company’s stock.

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.