ABM Industries Incorporated (NYSE:ABM) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,718 shares of the business services provider’s stock after buying an additional 442 shares during the period. Arizona State Retirement System’s holdings in ABM Industries were worth $896,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ABM. TD Asset Management Inc acquired a new position in ABM Industries in the 2nd quarter worth $496,000. Pzena Investment Management LLC purchased a new stake in ABM Industries during the 2nd quarter worth approximately $21,032,000. Farther Finance Advisors LLC raised its position in shares of ABM Industries by 32,916.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,943 shares of the business services provider’s stock valued at $298,000 after purchasing an additional 5,925 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of ABM Industries during the second quarter worth approximately $142,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ABM Industries by 15.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,072 shares of the business services provider’s stock worth $712,000 after buying an additional 1,856 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $51.61 on Friday. The stock has a market capitalization of $3.24 billion, a P/E ratio of 13.51 and a beta of 1.14. The firm’s 50-day moving average price is $53.51 and its two-hundred day moving average price is $48.51. ABM Industries Incorporated has a 52-week low of $38.48 and a 52-week high of $59.78. The company has a quick ratio of 1.44, a current ratio of 1.38 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.04 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts forecast that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is 23.56%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Truist Financial increased 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 upped their price objective on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, UBS Group upped their price target on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, September 9th.

Insider Activity

In other ABM Industries news, CEO Scott B. Salmirs sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total value of $1,222,500.00. Following the completion of the sale, the chief executive officer now directly owns 378,391 shares in the company, valued at $18,503,319.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the completion of the transaction, the chief executive officer now owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott B. Salmirs sold 11,736 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total transaction of $646,418.88. Following the completion of the sale, the chief executive officer now owns 366,655 shares in the company, valued at $20,195,357.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,778 shares of company stock valued at $4,039,248. Company insiders own 1.04% of the company’s stock.

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.