Intech Investment Management LLC Grows Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Intech Investment Management LLC lifted its position in ABM Industries Incorporated (NYSE:ABM) by 138.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,810 shares of the business services provider’s stock after purchasing an additional 14,977 shares during the quarter. Intech Investment Management LLC’s holdings in ABM Industries were worth $1,362,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co boosted its stake in ABM Industries by 5.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 74,268 shares of the business services provider’s stock worth $3,314,000 after buying an additional 3,841 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of ABM Industries by 2,102.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,030 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ABM Industries by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,717 shares of the business services provider’s stock valued at $1,773,000 after purchasing an additional 1,579 shares during the last quarter. Tidal Investments LLC purchased a new position in ABM Industries in the 1st quarter worth $220,000. Finally, Burney Co. lifted its stake in ABM Industries by 5.2% in the first quarter. Burney Co. now owns 15,195 shares of the business services provider’s stock worth $678,000 after purchasing an additional 748 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Earl Ray Ellis sold 40,000 shares of the company’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 directly owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This represents 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 this link. Company insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

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

ABM Industries Price Performance

Shares of ABM stock opened at $56.80 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. ABM Industries Incorporated has a fifty-two week low of $39.64 and a fifty-two week high of $59.78. The firm has a market cap of $3.57 billion, a P/E ratio of 23.47 and a beta of 1.14. The business’s 50 day moving average price is $53.74 and its 200-day moving average price is $52.23.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.225 per share. The ex-dividend date was Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.58%. ABM Industries’s payout ratio is 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.