Public Sector Pension Investment Board Boosts Stock Position in ABM Industries Incorporated (NYSE:ABM)

Public Sector Pension Investment Board raised its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 8.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,237 shares of the business services provider’s stock after buying an additional 10,387 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of ABM Industries worth $7,041,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ABM. GAMMA Investing LLC increased its holdings in shares of ABM Industries by 37.5% during 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 in the last quarter. SummerHaven Investment Management LLC increased its stake in ABM Industries by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock valued at $891,000 after purchasing an additional 324 shares in the last quarter. Arizona State Retirement System increased its stake in ABM Industries by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock valued at $896,000 after purchasing an additional 442 shares in the last quarter. Adirondack Trust Co. raised its holdings in ABM Industries by 250.0% in the second 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. Finally, BOKF NA bought a new position in shares of ABM Industries in the second quarter worth approximately $30,000. 91.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the transaction, the chief executive officer now owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ABM Industries news, CAO Dean A. Chin sold 2,042 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was 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 $937,595.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $1,222,500.00. Following the completion of the transaction, the chief executive officer now directly 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 in the last quarter. 1.04% of the stock is currently owned by insiders.

ABM Industries Stock Down 1.6 %

Shares of ABM Industries stock opened at $50.27 on Wednesday. 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 Incorporated has a twelve month low of $38.48 and a twelve month high of $59.78. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 13.16 and a beta of 1.14. The company’s 50 day moving average is $53.62 and its 200 day moving average is $49.09.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.08. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the firm earned $0.79 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.225 per share. The ex-dividend date 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 is currently 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.