ABM Industries Incorporated (NYSE:ABM) Stock Holdings Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 1.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 34,399 shares of the business services provider’s stock after selling 637 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ABM Industries were worth $1,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its position in ABM Industries by 214.6% in the 2nd quarter. CWM LLC now owns 3,017 shares of the business services provider’s stock valued at $153,000 after buying an additional 2,058 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of ABM Industries by 6.8% during the second quarter. Cornerstone Wealth Management LLC now owns 10,003 shares of the business services provider’s stock valued at $506,000 after acquiring an additional 635 shares during the period. Brown Lisle Cummings Inc. purchased a new stake in shares of ABM Industries in the second quarter valued at $147,000. Naples Global Advisors LLC grew its holdings in shares of ABM Industries by 52.7% during the second quarter. Naples Global Advisors LLC now owns 11,308 shares of the business services provider’s stock valued at $572,000 after buying an additional 3,901 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in ABM Industries during the 2nd quarter worth about $3,682,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ABM shares. Truist Financial upped their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, September 9th. Robert W. Baird lifted their price target on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, UBS Group boosted their price target on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, September 9th.

Insider Buying and Selling at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated 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 sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Stock Down 1.1 %

ABM stock opened at $56.83 on Tuesday. The firm has a market cap of $3.57 billion, a PE ratio of 23.48 and a beta of 1.14. ABM Industries Incorporated has a 1 year low of $39.64 and a 1 year high of $59.78. The company has a fifty day simple moving average of $54.87 and a 200 day simple moving average of $52.95. 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 (NYSE:ABM) last announced 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 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Sell-side analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries’s payout ratio is presently 37.19%.

ABM Industries 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.