ABM Industries Incorporated (NYSE:ABM) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its position in ABM Industries Incorporated (NYSE:ABM) by 91.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,596 shares of the business services provider’s stock after selling 72,568 shares during the quarter. Bleakley Financial Group LLC’s holdings in ABM Industries were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Creative Planning grew its stake in shares of ABM Industries by 20.8% in the third quarter. Creative Planning now owns 25,370 shares of the business services provider’s stock valued at $1,339,000 after buying an additional 4,374 shares in the last quarter. Inspire Investing LLC grew its stake in shares of ABM Industries by 12.4% in the third quarter. Inspire Investing LLC now owns 7,797 shares of the business services provider’s stock valued at $411,000 after buying an additional 862 shares in the last quarter. CWM LLC grew its stake in shares of ABM Industries by 108.8% in the third quarter. CWM LLC now owns 6,301 shares of the business services provider’s stock valued at $332,000 after buying an additional 3,284 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 purchasing an additional 589 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ABM Industries during the 2nd quarter worth $1,467,000. 91.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at ABM Industries

In other ABM Industries 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 transaction of $2,158,400.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is owned by company insiders.

ABM Industries Stock Down 1.6 %

ABM Industries stock opened at $53.44 on Wednesday. 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 capitalization of $3.35 billion, a P/E ratio of 13.99 and a beta of 1.14. The stock has a 50-day simple moving average of $53.12 and a 200-day simple moving average of $50.37.

ABM Industries (NYSE:ABM) last posted its 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. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the business earned $0.79 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that ABM Industries Incorporated will post 3.53 earnings per share for the current 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 paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio is presently 23.56%.

About ABM Industries

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.