Raymond James & Associates Increases Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Raymond James & Associates lifted its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,619 shares of the business services provider’s stock after buying an additional 708 shares during the period. Raymond James & Associates’ holdings in ABM Industries were worth $4,287,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ABM. Cambridge Investment Research Advisors Inc. purchased a new position in shares of ABM Industries during the first quarter valued at approximately $284,000. Bank of Montreal Can boosted its position in ABM Industries by 2.2% in the first quarter. Bank of Montreal Can now owns 21,837 shares of the business services provider’s stock worth $1,000,000 after purchasing an additional 473 shares during the last quarter. MetLife Investment Management LLC boosted its position in ABM Industries by 53.8% in the first quarter. MetLife Investment Management LLC now owns 35,527 shares of the business services provider’s stock worth $1,636,000 after purchasing an additional 12,425 shares during the last quarter. Rhumbline Advisers boosted its position in ABM Industries by 2.2% in the first quarter. Rhumbline Advisers now owns 193,026 shares of the business services provider’s stock worth $8,887,000 after purchasing an additional 4,196 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in ABM Industries by 2.1% in the first quarter. Great West Life Assurance Co. Can now owns 60,453 shares of the business services provider’s stock worth $2,860,000 after purchasing an additional 1,246 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABM. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Truist Financial boosted their price objective on ABM Industries from $43.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, December 14th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.20.

ABM Industries Stock Performance

Shares of ABM opened at $43.71 on Friday. The firm has a market cap of $2.77 billion, a PE ratio of 11.18 and a beta of 1.16. The stock’s fifty day moving average price is $42.19 and its two-hundred day moving average price is $42.16. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $53.05.

ABM Industries (NYSE:ABM) last issued its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.01 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.37 EPS for the current year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.06%. ABM Industries’s payout ratio is 23.02%.

Insider Activity at ABM Industries

In related news, COO Rene Jacobsen sold 5,563 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $43.59, for a total transaction of $242,491.17. Following the sale, the chief operating officer now directly owns 111,677 shares in the company, valued at approximately $4,868,000.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ABM Industries news, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the transaction, the chief accounting officer now directly owns 19,972 shares in the company, valued at approximately $896,543.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Rene Jacobsen sold 5,563 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the transaction, the chief operating officer now owns 111,677 shares in the company, valued at $4,868,000.43. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

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.