Quantbot Technologies LP Buys Shares of 3,768 ABM Industries Incorporated (NYSE:ABM)

Quantbot Technologies LP acquired a new position in ABM Industries Incorporated (NYSE:ABMFree Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,768 shares of the business services provider’s stock, valued at approximately $151,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ABM. Goodman Financial Corp boosted its stake in shares of ABM Industries by 2.4% during the 3rd quarter. Goodman Financial Corp now owns 240,077 shares of the business services provider’s stock worth $9,605,000 after purchasing an additional 5,552 shares during the period. Arizona State Retirement System boosted its stake in shares of ABM Industries by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 18,833 shares of the business services provider’s stock worth $754,000 after purchasing an additional 265 shares during the period. Illinois Municipal Retirement Fund purchased a new position in shares of ABM Industries during the 3rd quarter worth about $1,528,000. Duality Advisers LP boosted its stake in shares of ABM Industries by 15.6% during the 3rd quarter. Duality Advisers LP now owns 24,161 shares of the business services provider’s stock worth $967,000 after purchasing an additional 3,263 shares during the period. Finally, Olympiad Research LP purchased a new position in shares of ABM Industries during the 3rd quarter worth about $254,000. 86.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ABM shares. Truist Financial lifted their price target on shares of ABM Industries from $43.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, December 14th. StockNews.com cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ABM Industries currently has a consensus rating of “Hold” and an average price target of $45.20.

View Our Latest Analysis on ABM

Insider Activity

In related news, CEO Scott B. Salmirs sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the chief executive officer now owns 326,690 shares in the company, valued at approximately $16,334,500. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Andrea R. Newborn sold 9,766 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $48.30, for a total transaction of $471,697.80. Following the completion of the transaction, the executive vice president now owns 42,722 shares in the company, valued at approximately $2,063,472.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the chief executive officer now owns 326,690 shares of the company’s stock, valued at approximately $16,334,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,107 shares of company stock worth $2,010,213. 0.85% of the stock is currently owned by corporate insiders.

ABM Industries Trading Down 0.4 %

NYSE:ABM opened at $40.21 on Monday. ABM Industries Incorporated has a one year low of $37.61 and a one year high of $53.05. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $2.53 billion, a P/E ratio of 10.61 and a beta of 1.16. The firm has a 50-day simple moving average of $43.29 and a 200-day simple moving average of $42.60.

ABM Industries (NYSE:ABMGet Free Report) last posted its quarterly earnings results on Wednesday, December 13th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.92 by $0.09. ABM Industries had a net margin of 3.10% and a return on equity of 12.92%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.89 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that ABM Industries Incorporated will post 3.32 EPS for the current fiscal year.

ABM Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Thursday, January 4th were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, January 3rd. This represents a $0.90 annualized dividend and a dividend yield of 2.24%. This is a positive change from ABM Industries’s previous quarterly dividend of $0.22. ABM Industries’s payout ratio is currently 23.75%.

ABM Industries Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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