Nisa Investment Advisors LLC Has $82,000 Position in ABM Industries Incorporated (NYSE:ABM)

Nisa Investment Advisors LLC cut its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 13.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,733 shares of the business services provider’s stock after selling 259 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ABM Industries were worth $82,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in shares of ABM Industries by 26.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 16,141 shares of the business services provider’s stock worth $764,000 after acquiring an additional 3,340 shares during the last quarter. Principal Financial Group Inc. boosted its stake in ABM Industries by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 347,496 shares of the business services provider’s stock valued at $16,457,000 after purchasing an additional 5,880 shares during the period. Highland Capital Management LLC bought a new stake in ABM Industries in the 1st quarter valued at $207,000. Illinois Municipal Retirement Fund boosted its stake in ABM Industries by 12.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 37,543 shares of the business services provider’s stock valued at $1,778,000 after purchasing an additional 4,030 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in ABM Industries by 3.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 30,736 shares of the business services provider’s stock valued at $1,456,000 after purchasing an additional 910 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ABM shares. Wall Street Zen upgraded ABM Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Truist Financial upgraded ABM Industries from a “hold” rating to a “buy” rating and boosted their price target for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. UBS Group upgraded ABM Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $50.00 to $54.00 in a research note on Monday, June 9th. Baird R W upgraded ABM Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 9th. Finally, Robert W. Baird upgraded ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 price target on the stock in a research report on Monday, June 9th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $56.00.

ABM Industries Stock Down 1.4%

ABM stock opened at $47.75 on Friday. The company has a market cap of $2.97 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.78. The business has a 50-day simple moving average of $48.77 and a 200 day simple moving average of $49.63. ABM Industries Incorporated has a 52 week low of $40.85 and a 52 week high of $59.78. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.83.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.07 billion. ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $0.87 EPS. Sell-side analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.22%. The ex-dividend date is Thursday, July 3rd. ABM Industries’s payout ratio is 85.48%.

Insiders Place Their Bets

In other ABM Industries news, COO Rene Jacobsen sold 17,250 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $48.03, for a total transaction of $828,517.50. Following the completion of the transaction, the chief operating officer owned 71,256 shares of the company’s stock, valued at approximately $3,422,425.68. The trade was a 19.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott B. Salmirs sold 37,065 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $52.37, for a total value of $1,941,094.05. Following the transaction, the chief executive officer directly owned 369,656 shares of the company’s stock, valued at approximately $19,358,884.72. The trade was a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,335 shares of company stock worth $3,730,745 in the last ninety days. Insiders own 0.90% of the company’s stock.

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.