ABM Industries Incorporated (NYSE:ABM) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its position in shares of ABM Industries Incorporated (NYSE:ABM) by 89.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,536 shares of the business services provider’s stock after selling 506,708 shares during the period. Millennium Management LLC’s holdings in ABM Industries were worth $3,112,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. BOKF NA purchased a new stake in shares of ABM Industries during the 2nd quarter worth approximately $30,000. Adirondack Trust Co. raised its holdings in ABM Industries by 250.0% in the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after buying an additional 500 shares during the period. GAMMA Investing LLC raised its stake in shares of ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 273 shares during the period. Lazard Asset Management LLC raised its stake in shares of ABM Industries by 2,102.0% during the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,030 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of ABM Industries during the second quarter valued at approximately $142,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. UBS Group upped their target price on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Robert W. Baird increased their price objective 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, Truist Financial raised their target price on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, September 9th.

Insider Transactions at ABM Industries

In other ABM Industries 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 transaction of $646,418.88. Following the completion of the transaction, the chief executive officer now owns 366,655 shares of the company’s stock, valued at $20,195,357.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.04% of the company’s stock.

ABM Industries Stock Performance

NYSE:ABM opened at $53.98 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. 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 market cap of $3.39 billion, a price-to-earnings ratio of 14.13 and a beta of 1.14. The stock has a fifty day moving average price of $52.93 and a 200-day moving average price of $49.97.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. As a group, equities analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s dividend payout ratio is 23.56%.

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.