Thrivent Financial for Lutherans Has $3.24 Million Stake in ABM Industries Incorporated (NYSE:ABM)

Thrivent Financial for Lutherans lowered its stake in ABM Industries Incorporated (NYSE:ABM) by 39.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 61,386 shares of the business services provider’s stock after selling 40,407 shares during the quarter. Thrivent Financial for Lutherans’ holdings in ABM Industries were worth $3,239,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ABM. Pacer Advisors Inc. acquired a new stake in ABM Industries in the 2nd quarter worth approximately $125,118,000. Pzena Investment Management LLC bought a new stake in shares of ABM Industries during the 2nd quarter worth $21,032,000. LSV Asset Management grew its stake in ABM Industries by 92.3% in the 2nd quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock valued at $38,449,000 after buying an additional 364,879 shares during the last quarter. SG Capital Management LLC bought a new position in ABM Industries in the 1st quarter worth $13,730,000. Finally, Allspring Global Investments Holdings LLC lifted its position in ABM Industries by 652,535.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 110,948 shares of the business services provider’s stock worth $5,611,000 after acquiring an additional 110,931 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

Shares of ABM stock opened at $57.36 on Tuesday. ABM Industries Incorporated has a 12 month low of $39.64 and a 12 month high of $59.78. The company has a market capitalization of $3.60 billion, a P/E ratio of 23.70 and a beta of 1.14. The stock has a 50 day moving average of $53.64 and a two-hundred day moving average of $52.15. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last issued its earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.86 by $0.08. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $0.79 earnings per share. As a group, equities analysts expect that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 37.19%.

Analyst Upgrades and Downgrades

ABM has been the topic of several research analyst reports. Truist Financial raised their price target on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, September 9th. Robert W. Baird lifted their price target 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 research report on Friday, August 2nd. Finally, UBS Group boosted their target price on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th.

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.