Charles Schwab Investment Management Inc. Boosts Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Charles Schwab Investment Management Inc. boosted its stake in ABM Industries Incorporated (NYSE:ABM) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 681,006 shares of the business services provider’s stock after purchasing an additional 12,179 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.08% of ABM Industries worth $35,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC grew its stake in shares of ABM Industries by 2,102.0% during 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ABM Industries by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,717 shares of the business services provider’s stock worth $1,773,000 after buying an additional 1,579 shares during the period. Tidal Investments LLC bought a new position in shares of ABM Industries during the 1st quarter worth $220,000. Boston Partners increased its position in ABM Industries by 152.2% during the 1st quarter. Boston Partners now owns 24,125 shares of the business services provider’s stock valued at $1,076,000 after purchasing an additional 14,560 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of ABM Industries by 37.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 273 shares in the last quarter. Institutional investors own 91.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ABM shares. UBS Group boosted their target price on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Truist Financial upped their target price on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, September 9th. Finally, Robert W. Baird lifted their price target on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th.

ABM Industries Trading Up 1.0 %

Shares of ABM stock opened at $57.75 on Tuesday. ABM Industries Incorporated has a fifty-two week low of $39.64 and a fifty-two week high of $59.78. The firm has a market capitalization of $3.63 billion, a P/E ratio of 23.86 and a beta of 1.14. The stock’s fifty day moving average is $54.32 and its two-hundred day moving average is $52.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38.

ABM Industries (NYSE:ABM) last posted 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 net margin of 1.89% and a return on equity of 12.93%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts expect that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were issued a $0.225 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.56%. ABM Industries’s dividend payout ratio (DPR) is presently 37.19%.

Insider Buying and Selling

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. This trade represents a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.04% of the stock is currently owned by insiders.

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.