Pacer Advisors Inc. Invests $125.12 Million in ABM Industries Incorporated (NYSE:ABM)

Pacer Advisors Inc. purchased a new position in ABM Industries Incorporated (NYSE:ABM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,474,159 shares of the business services provider’s stock, valued at approximately $125,118,000. Pacer Advisors Inc. owned 3.94% of ABM Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its stake 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 buying an additional 273 shares during the period. SummerHaven Investment Management LLC increased its position 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 during the period. Arizona State Retirement System raised its holdings in shares of ABM Industries by 2.6% in 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. boosted its position in shares of ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after purchasing an additional 500 shares in the last quarter. Finally, BOKF NA purchased a new position in ABM Industries during the 2nd quarter worth $30,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Price Performance

Shares of NYSE ABM opened at $52.05 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.44. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.63 and a beta of 1.14. The firm’s 50 day simple moving average is $53.68 and its 200-day simple moving average is $48.87. ABM Industries Incorporated has a 12 month low of $38.48 and a 12 month high of $59.78.

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

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s payout ratio is presently 23.56%.

Insiders Place Their Bets

In other news, COO Rene Jacobsen sold 40,000 shares of the business’s stock in a transaction dated 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 owns 72,062 shares of the company’s stock, valued at $3,723,443.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Rene Jacobsen sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $51.67, for a total value of $2,066,800.00. Following the sale, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at $3,723,443.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction 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 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. Over the last ninety days, insiders sold 78,778 shares of company stock worth $4,039,248. Company insiders own 1.04% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.