Cwm LLC Increases Holdings in ABM Industries Incorporated (NYSE:ABM)

Cwm LLC increased its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 108.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,301 shares of the business services provider’s stock after purchasing an additional 3,284 shares during the quarter. Cwm LLC’s holdings in ABM Industries were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in ABM Industries by 58.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after buying an additional 589 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ABM Industries during the second quarter valued at $1,467,000. Creative Planning increased its holdings in ABM Industries by 35.0% in the 2nd quarter. Creative Planning now owns 20,996 shares of the business services provider’s stock valued at $1,062,000 after acquiring an additional 5,448 shares during the last quarter. Algert Global LLC lifted its stake in ABM Industries by 50.8% in the 2nd quarter. Algert Global LLC now owns 200,497 shares of the business services provider’s stock worth $10,139,000 after purchasing an additional 67,560 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of ABM Industries by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,036 shares of the business services provider’s stock valued at $1,772,000 after purchasing an additional 539 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the sale, the chief executive officer now directly owns 366,655 shares in the company, valued at approximately $20,195,357.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Scott B. Salmirs sold 11,736 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total value of $646,418.88. Following the transaction, the chief executive officer now directly owns 366,655 shares in the company, valued at approximately $20,195,357.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the sale, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, September 9th. UBS Group increased their target price on 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 cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird increased their price objective 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.

ABM Industries Trading Down 1.3 %

Shares of ABM stock opened at $54.29 on Tuesday. The company has a market cap of $3.41 billion, a PE ratio of 14.21 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. The stock’s 50 day simple moving average is $53.11 and its two-hundred day simple moving average is $50.30. ABM Industries Incorporated has a 1 year low of $38.48 and a 1 year high of $59.78.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the company earned $0.79 earnings per share. ABM Industries’s revenue was up 3.3% on a year-over-year basis. Research analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently disclosed 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 1.66%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

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.