Captrust Financial Advisors purchased a new stake in ABM Industries Incorporated (NYSE:ABM – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,816 shares of the business services provider’s stock, valued at approximately $412,000.
Several other hedge funds also recently modified their holdings of the company. Foundry Partners LLC boosted its holdings in shares of ABM Industries by 694.2% in the 3rd quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock worth $4,583,000 after acquiring an additional 75,930 shares in the last quarter. Citigroup Inc. raised its position in ABM Industries by 51.3% in the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock valued at $5,329,000 after purchasing an additional 34,254 shares during the last quarter. Algert Global LLC boosted its stake in ABM Industries by 50.8% in the second quarter. Algert Global LLC now owns 200,497 shares of the business services provider’s stock worth $10,139,000 after purchasing an additional 67,560 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of ABM Industries by 138.3% during the third quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock worth $1,362,000 after purchasing an additional 14,977 shares during the last quarter. Finally, Natixis Advisors LLC acquired a new stake in shares of ABM Industries in the third quarter valued at $543,000. Institutional investors and hedge funds own 91.62% of the company’s stock.
ABM Industries Stock Performance
Shares of NYSE:ABM opened at $56.10 on Friday. 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 Incorporated has a 1-year low of $39.64 and a 1-year high of $59.78. The stock has a market capitalization of $3.52 billion, a P/E ratio of 23.18 and a beta of 1.14. The business has a 50-day moving average price of $55.28 and a two-hundred day moving average price of $53.14.
ABM Industries Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a $0.265 dividend. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries’s dividend payout ratio is currently 37.19%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on ABM shares. Robert W. Baird increased their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. UBS Group upped 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. Finally, Truist Financial raised their price target on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th.
Read Our Latest Report on ABM Industries
Insider Buying and Selling at ABM Industries
In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.04% of the company’s stock.
ABM Industries Company Profile
(Free Report)
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.
See Also
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