ProShare Advisors LLC Has $8.36 Million Position in ABM Industries Incorporated (NYSE:ABM)

ProShare Advisors LLC decreased its position in shares of ABM Industries Incorporated (NYSE:ABM) by 15.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,214 shares of the business services provider’s stock after selling 30,824 shares during the period. ProShare Advisors LLC owned about 0.26% of ABM Industries worth $8,355,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the transaction, the chief operating officer now owns 72,062 shares in the company, valued at approximately $3,723,443.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Rene Jacobsen sold 40,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the sale, the chief operating officer now directly owns 72,062 shares in the company, valued at $3,723,443.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Scott B. Salmirs sold 11,736 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total transaction of $646,418.88. Following the completion of the transaction, the chief executive officer now owns 366,655 shares in the company, valued at approximately $20,195,357.40. The disclosure for this sale can be found here. Insiders have sold a total of 78,778 shares of company stock valued at $4,039,248 over the last ninety days. 1.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

ABM Industries Trading Down 1.6 %

ABM opened at $50.27 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.44. ABM Industries Incorporated has a fifty-two week low of $38.48 and a fifty-two week high of $59.78. The company’s 50 day moving average price is $53.62 and its two-hundred day moving average price is $49.09. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 13.16 and a beta of 1.14.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. ABM Industries’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. As a group, research analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.79%. ABM Industries’s dividend payout ratio (DPR) is 23.56%.

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.