Citigroup Inc. Acquires 34,254 Shares of ABM Industries Incorporated (NYSE:ABM)

Citigroup Inc. raised its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 51.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,006 shares of the business services provider’s stock after acquiring an additional 34,254 shares during the quarter. Citigroup Inc.’s holdings in ABM Industries were worth $5,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BOKF NA bought a new stake in shares of ABM Industries during the 2nd quarter valued at $30,000. Capital Performance Advisors LLP purchased a new stake in shares of ABM Industries in the third quarter worth about $30,000. Copeland Capital Management LLC bought a new position in shares of ABM Industries in the third quarter valued at approximately $37,000. Lazard Asset Management LLC grew its stake in 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 acquiring an additional 1,030 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in ABM Industries by 37.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after acquiring an additional 273 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

NYSE ABM opened at $57.17 on Monday. 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 $3.59 billion, a P/E ratio of 23.62 and a beta of 1.14. The company has a fifty day moving average of $54.19 and a 200-day moving average of $52.54. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78.

ABM Industries (NYSE:ABM) last issued 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 company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the business posted $0.79 EPS. ABM Industries’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd were issued a $0.225 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.57%. ABM Industries’s dividend payout ratio (DPR) is presently 37.19%.

Analyst Upgrades and Downgrades

ABM has been the subject of a number of recent analyst reports. Truist Financial boosted their price target on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report 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 report on Monday, September 9th. Finally, UBS Group raised their price target on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, September 9th.

Insider Buying and Selling

In related news, CFO Earl Ray Ellis sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were 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 owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This trade represents a 46.92 % decrease in their ownership of the stock. The sale 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.

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.