Victory Capital Management Inc. Grows Stock Position in ABM Industries Incorporated (NYSE:ABM)

Victory Capital Management Inc. increased its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 279.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,067 shares of the business services provider’s stock after buying an additional 79,587 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of ABM Industries worth $5,702,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its stake in shares of ABM Industries by 21.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 22,982 shares of the business services provider’s stock valued at $1,033,000 after buying an additional 4,070 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of ABM Industries in the 1st quarter valued at about $225,000. UniSuper Management Pty Ltd acquired a new position in ABM Industries in the 1st quarter valued at about $710,000. CANADA LIFE ASSURANCE Co increased its position in ABM Industries by 5.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 74,268 shares of the business services provider’s stock valued at $3,314,000 after acquiring an additional 3,841 shares during the period. Finally, Shell Asset Management Co. acquired a new position in ABM Industries during the 1st quarter worth approximately $241,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Insider Buying and Selling at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction that occurred on 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 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 46.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

ABM Industries Trading Up 0.7 %

NYSE:ABM opened at $56.79 on Friday. ABM Industries Incorporated has a 12 month low of $39.64 and a 12 month high of $59.78. The firm has a market capitalization of $3.57 billion, a PE ratio of 23.62 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 business’s 50-day moving average is $53.53 and its two-hundred day moving average is $51.96.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data 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. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. ABM Industries’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. Research analysts predict 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. Shareholders of record on Thursday, October 3rd were paid a $0.225 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.58%. ABM Industries’s payout ratio is currently 37.19%.

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.