Janney Montgomery Scott LLC Boosts Stake in ABM Industries Incorporated (NYSE:ABM)

Janney Montgomery Scott LLC grew its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 169.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,240 shares of the business services provider’s stock after acquiring an additional 19,639 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ABM Industries were worth $1,648,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of ABM Industries by 37.5% during 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 during the last quarter. SummerHaven Investment Management LLC lifted its stake in ABM Industries by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock worth $891,000 after purchasing an additional 324 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in ABM Industries by 2.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock valued at $900,000 after buying an additional 378 shares during the period. Arizona State Retirement System grew its stake in shares of ABM Industries by 2.6% during the second quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock valued at $896,000 after buying an additional 442 shares during the last quarter. Finally, Adirondack Trust Co. increased its holdings in shares of 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 period. 91.62% of the stock is currently owned by institutional investors.

Insider Activity

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Stock Performance

ABM opened at $56.92 on Thursday. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 23.52 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. The company’s 50 day moving average is $52.99 and its 200 day moving average is $51.55.

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

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders 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 dividend yield of 1.58%. ABM Industries’s dividend payout ratio (DPR) is presently 37.19%.

Wall Street Analyst Weigh In

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

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.