12,134 Shares in ABM Industries Incorporated (NYSE:ABM) Purchased by Seven Eight Capital LP

Seven Eight Capital LP bought a new stake in ABM Industries Incorporated (NYSE:ABM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,134 shares of the business services provider’s stock, valued at approximately $614,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of ABM Industries in the 4th quarter worth approximately $31,310,000. Pzena Investment Management LLC bought a new position in ABM Industries in the 2nd quarter worth about $21,032,000. LSV Asset Management bought a new position in ABM Industries in the 1st quarter worth about $17,645,000. SG Capital Management LLC acquired a new stake in shares of ABM Industries in the first quarter valued at approximately $13,730,000. Finally, Invenomic Capital Management LP bought a new stake in shares of ABM Industries during the first quarter valued at approximately $10,071,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Stock Up 0.5 %

ABM opened at $52.08 on Friday. The stock’s fifty day moving average is $53.68 and its 200-day moving average is $48.92. ABM Industries Incorporated has a one year low of $38.48 and a one year high of $59.78. The company has a market capitalization of $3.27 billion, a PE ratio of 13.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.44 and a current ratio of 1.38.

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

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be given a $0.225 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.73%. ABM Industries’s dividend payout ratio (DPR) is 23.56%.

Insider Buying and Selling at ABM Industries

In related news, CEO Scott B. Salmirs sold 11,736 shares of ABM Industries stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the transaction, the chief executive officer now directly owns 366,655 shares in the company, valued at approximately $20,195,357.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ABM Industries news, CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.70, for a total value of $103,529.40. Following the completion of the transaction, the chief accounting officer now directly owns 18,493 shares in the company, valued at $937,595.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Scott B. Salmirs sold 11,736 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,778 shares of company stock valued at $4,039,248. Corporate insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

ABM has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. StockNews.com cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Truist Financial increased their target price on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, September 9th. Finally, UBS Group boosted their price target on shares of ABM Industries from $51.00 to $55.00 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.