Inspire Investing LLC Sells 1,134 Shares of ABM Industries Incorporated (NYSE:ABM)

Inspire Investing LLC reduced its position in ABM Industries Incorporated (NYSE:ABM) by 14.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,935 shares of the business services provider’s stock after selling 1,134 shares during the period. Inspire Investing LLC’s holdings in ABM Industries were worth $351,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ABM. BOKF NA bought a new position in shares of ABM Industries in the second quarter valued at approximately $30,000. Adirondack Trust Co. boosted its holdings in ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 500 shares during the period. Lazard Asset Management LLC grew its position in shares of ABM Industries by 2,102.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,030 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after purchasing an additional 273 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in shares of ABM Industries in the fourth quarter worth $54,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Price Performance

ABM opened at $51.10 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.21 billion, a P/E ratio of 13.38 and a beta of 1.14. The stock has a 50-day moving average price of $53.67 and a 200-day moving average price of $49.03. ABM Industries Incorporated has a 12-month low of $38.48 and a 12-month 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 (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. ABM Industries’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. Equities analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s payout ratio is presently 23.56%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other ABM Industries news, CAO Dean A. Chin sold 2,042 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $50.70, for a total transaction of $103,529.40. Following the completion of the sale, the chief accounting officer now owns 18,493 shares of the company’s stock, valued at approximately $937,595.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott B. Salmirs sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were 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 in the company, valued at approximately $18,503,319.90. The disclosure for this sale can be found here. Insiders sold 78,778 shares of company stock valued at $4,039,248 over the last three months. Insiders own 1.04% of the company’s stock.

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.