Nisa Investment Advisors LLC Sells 259 Shares of ABM Industries Incorporated (NYSE:ABM)

Nisa Investment Advisors LLC trimmed its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 13.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,733 shares of the business services provider’s stock after selling 259 shares during the period. Nisa Investment Advisors LLC’s holdings in ABM Industries were worth $82,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABM. American Century Companies Inc. raised its position in shares of ABM Industries by 2,322.1% during the fourth quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider’s stock worth $60,582,000 after purchasing an additional 1,134,825 shares during the period. Norges Bank acquired a new position in shares of ABM Industries during the fourth quarter worth approximately $43,967,000. Nuveen Asset Management LLC raised its position in shares of ABM Industries by 99.2% during the fourth quarter. Nuveen Asset Management LLC now owns 671,266 shares of the business services provider’s stock worth $34,355,000 after purchasing an additional 334,295 shares during the period. Bank of America Corp DE raised its position in shares of ABM Industries by 52.1% during the fourth quarter. Bank of America Corp DE now owns 677,811 shares of the business services provider’s stock worth $34,690,000 after purchasing an additional 232,190 shares during the period. Finally, Invesco Ltd. raised its position in shares of ABM Industries by 14.8% during the fourth quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider’s stock worth $77,666,000 after purchasing an additional 195,978 shares during the period. 91.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Rene Jacobsen sold 17,250 shares of the firm’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $48.03, for a total transaction of $828,517.50. Following the completion of the sale, the chief operating officer directly owned 71,256 shares of the company’s stock, valued at $3,422,425.68. This trade represents a 19.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sean Michael Mahoney sold 1,800 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total value of $90,054.00. Following the sale, the executive vice president directly owned 47,425 shares of the company’s stock, valued at approximately $2,372,672.75. This represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,335 shares of company stock valued at $3,730,745. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABM. Truist Financial raised ABM Industries from a “hold” rating to a “buy” rating and upped their target price for the stock from $55.00 to $58.00 in a research report on Wednesday, July 2nd. Baird R W raised ABM Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 9th. Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. Robert W. Baird raised ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 price target for the company in a research report on Monday, June 9th. Finally, UBS Group raised ABM Industries from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $54.00 in a research report on Monday, June 9th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $56.00.

ABM Industries Trading Down 1.4%

NYSE ABM opened at $47.75 on Friday. The firm has a market capitalization of $2.97 billion, a P/E ratio of 38.51, a PEG ratio of 2.50 and a beta of 0.78. The business has a fifty day simple moving average of $48.77 and a 200 day simple moving average of $49.63. ABM Industries Incorporated has a 12 month low of $40.85 and a 12 month high of $59.78. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83.

ABM Industries (NYSE:ABM) last announced its earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, July 3rd. ABM Industries’s dividend payout ratio is presently 85.48%.

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.