The Manufacturers Life Insurance Company Has $1.77 Million Position in ABM Industries Incorporated (NYSE:ABM)

The Manufacturers Life Insurance Company boosted its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,036 shares of the business services provider’s stock after buying an additional 539 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of ABM Industries worth $1,772,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. acquired a new position in shares of ABM Industries in the 2nd quarter valued at about $125,118,000. LSV Asset Management lifted 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 during the period. Bank of New York Mellon Corp lifted its stake in shares of ABM Industries by 2.0% in 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 purchasing an additional 13,126 shares during the period. Pzena Investment Management LLC acquired a new position in shares of ABM Industries in the 2nd quarter valued at about $21,032,000. Finally, SG Capital Management LLC acquired a new position in shares of ABM Industries in the 1st quarter valued at about $13,730,000. 91.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Scott B. Salmirs sold 11,736 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at $20,195,357.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Rene Jacobsen sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $51.67, for a total value of $2,066,800.00. Following the completion of the transaction, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at $3,723,443.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $646,418.88. Following the completion of the transaction, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

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

ABM Industries Stock Down 1.0 %

ABM stock opened at $52.00 on Friday. The stock’s 50 day simple moving average is $52.93 and its 200 day simple moving average is $49.75. ABM Industries Incorporated has a fifty-two week low of $38.48 and a fifty-two week 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 company has a market cap of $3.26 billion, a P/E ratio of 13.61 and a beta of 1.14.

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

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio is currently 23.56%.

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.