Public Sector Pension Investment Board Sells 6,100 Shares of ABM Industries Incorporated (NYSE:ABM)

Public Sector Pension Investment Board cut its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,137 shares of the business services provider’s stock after selling 6,100 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of ABM Industries worth $7,024,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of ABM Industries during the third quarter worth approximately $30,000. BOKF NA bought a new stake in ABM Industries during the 2nd quarter valued at $30,000. Adirondack Trust Co. raised its holdings in ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after buying an additional 500 shares during the last quarter. Copeland Capital Management LLC bought a new position in shares of ABM Industries in the third quarter valued at $37,000. Finally, GAMMA Investing LLC grew its holdings in shares of ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after buying an additional 273 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Price Performance

Shares of NYSE ABM opened at $57.17 on Friday. The company has a market capitalization of $3.59 billion, a PE ratio of 23.62 and a beta of 1.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average price is $54.19 and its 200-day moving average price is $52.45. ABM Industries Incorporated has a twelve month low of $39.64 and a twelve month high of $59.78.

ABM Industries (NYSE:ABM) last announced 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. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, equities analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

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

Insider Buying and Selling at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the transaction, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. This trade represents a 46.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

ABM has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, September 9th. UBS Group lifted their target price on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, Robert W. Baird increased their price target on ABM Industries from $49.00 to $56.00 and gave the company 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.