Inspire Investing LLC Has $411,000 Stake in ABM Industries Incorporated (NYSE:ABM)

Inspire Investing LLC lifted its stake in ABM Industries Incorporated (NYSE:ABM) by 12.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,797 shares of the business services provider’s stock after acquiring an additional 862 shares during the period. Inspire Investing LLC’s holdings in ABM Industries were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABM. CWM LLC grew its holdings in ABM Industries by 108.8% during the third quarter. CWM LLC now owns 6,301 shares of the business services provider’s stock valued at $332,000 after purchasing an additional 3,284 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of ABM Industries by 58.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock worth $84,000 after buying an additional 589 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of ABM Industries during the 2nd quarter worth $1,467,000. Creative Planning grew its stake in ABM Industries by 35.0% in the 2nd quarter. Creative Planning now owns 20,996 shares of the business services provider’s stock valued at $1,062,000 after buying an additional 5,448 shares during the last quarter. Finally, Algert Global LLC raised its holdings in ABM Industries by 50.8% in the 2nd quarter. Algert Global LLC now owns 200,497 shares of the business services provider’s stock worth $10,139,000 after acquiring an additional 67,560 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Earl Ray Ellis sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the sale, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Scott B. Salmirs sold 11,736 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 366,655 shares in the company, valued at approximately $20,195,357.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the transaction, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABM. UBS Group upped their price target on shares of ABM Industries from $51.00 to $55.00 and gave the company 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 upped their target price on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $54.33 on Friday. The firm has a market capitalization of $3.41 billion, a PE ratio of 14.13 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 1-year low of $38.48 and a 1-year high of $59.78. The business’s 50 day moving average is $52.99 and its 200-day moving average is $50.05.

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

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be paid a $0.225 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.66%. ABM Industries’s payout ratio is currently 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.