ABM Industries Incorporated (NYSE:ABM) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its stake in ABM Industries Incorporated (NYSE:ABM) by 0.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,460 shares of the business services provider’s stock after selling 610 shares during the quarter. Raymond James & Associates owned approximately 0.11% of ABM Industries worth $3,612,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABM. BOKF NA purchased a new position in shares of ABM Industries during the second quarter valued at $30,000. Adirondack Trust Co. grew its holdings in shares of ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after buying an additional 500 shares in the last quarter. GAMMA Investing LLC grew 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 buying an additional 273 shares in the last quarter. Lazard Asset Management LLC grew its holdings 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 in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of ABM Industries during the second quarter valued at $142,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Price Performance

ABM opened at $53.09 on Monday. ABM Industries Incorporated has a 1 year low of $39.27 and a 1 year high of $59.78. The stock has a fifty day moving average price of $52.94 and a 200 day moving average price of $50.85. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 21.94 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share 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 analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be given a $0.225 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.70%. ABM Industries’s dividend payout ratio is currently 37.19%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. The trade was 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 this hyperlink. Insiders own 1.04% of the company’s stock.

ABM Industries Company 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.