GAMMA Investing LLC Increases Stock Position in ABM Industries Incorporated (NYSE:ABM)

GAMMA Investing LLC lifted its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 58.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,590 shares of the business services provider’s stock after acquiring an additional 589 shares during the period. GAMMA Investing LLC’s holdings in ABM Industries were worth $84,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BOKF NA acquired a new stake in shares of ABM Industries during the second quarter worth $30,000. Adirondack Trust Co. lifted its holdings in shares of ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after purchasing an additional 500 shares during the period. Lazard Asset Management LLC lifted its holdings 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 worth $48,000 after purchasing an additional 1,030 shares during the period. Innealta Capital LLC acquired a new stake in shares of ABM Industries during the second quarter worth $142,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of ABM Industries during the second quarter worth $147,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Price Performance

ABM Industries stock opened at $53.98 on Tuesday. The company has a market cap of $3.39 billion, a P/E ratio of 14.13 and a beta of 1.14. 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 one year low of $38.48 and a one year high of $59.78. The business has a fifty day moving average of $52.93 and a two-hundred day moving average of $49.97.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate 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 was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders 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 dividend yield of 1.67%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Analyst Ratings Changes

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

Insider Transactions at ABM Industries

In other ABM Industries news, CEO Scott B. Salmirs sold 11,736 shares of ABM Industries stock in a transaction dated 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 sale, the chief executive officer now owns 366,655 shares in the company, valued at $20,195,357.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.