Swiss National Bank Sells 3,000 Shares of ABM Industries Incorporated $ABM

Swiss National Bank lowered its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,500 shares of the business services provider’s stock after selling 3,000 shares during the quarter. Swiss National Bank owned 0.19% of ABM Industries worth $5,707,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ABM. Federated Hermes Inc. boosted its position in ABM Industries by 107.7% in the first quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock worth $44,000 after purchasing an additional 477 shares during the last quarter. Sterling Capital Management LLC boosted its position in ABM Industries by 834.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider’s stock worth $104,000 after purchasing an additional 1,820 shares during the last quarter. Palouse Capital Management Inc. boosted its position in ABM Industries by 17.4% in the first quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider’s stock worth $143,000 after purchasing an additional 446 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of ABM Industries during the 4th quarter valued at $190,000. Finally, Bridgefront Capital LLC purchased a new position in shares of ABM Industries during the 4th quarter valued at $204,000. Institutional investors own 91.62% of the company’s stock.

Analyst Ratings Changes

ABM has been the topic of a number of recent research reports. UBS Group raised ABM Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $50.00 to $54.00 in a research report on Monday, June 9th. Truist Financial raised ABM Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $58.00 in a report on Wednesday, July 2nd. Robert W. Baird raised ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 price objective on the stock in a report on Monday, June 9th. Wall Street Zen cut ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Baird R W raised ABM Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ABM Industries has a consensus rating of “Buy” and an average target price of $56.00.

ABM Industries Price Performance

Shares of NYSE ABM opened at $47.75 on Tuesday. The firm has a market capitalization of $2.97 billion, a P/E ratio of 38.51 and a beta of 0.80. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. The stock’s 50-day simple moving average is $47.05 and its two-hundred day simple moving average is $48.89. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.78.

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

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Thursday, July 3rd were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, July 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 85.48%.

Insider Activity at ABM Industries

In other ABM Industries news, Director Thomas M. Gartland sold 3,711 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $45.52, for a total value of $168,924.72. Following the completion of the sale, the director owned 30,958 shares in the company, valued at approximately $1,409,208.16. This trade represents a 10.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Rene Jacobsen sold 17,250 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $48.03, for a total value of $828,517.50. Following the completion of the sale, the chief operating officer owned 71,256 shares of the company’s stock, valued at approximately $3,422,425.68. This trade represents a 19.49% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

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.