Public Sector Pension Investment Board Trims Stock Position in ABM Industries Incorporated (NYSE:ABM)

Public Sector Pension Investment Board cut its position in ABM Industries Incorporated (NYSE:ABM) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 133,137 shares of the business services provider’s stock after selling 6,100 shares during the quarter. Public Sector Pension Investment Board’s holdings in ABM Industries were worth $7,024,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ABM. Capital Performance Advisors LLP bought a new position in shares of ABM Industries in the third quarter worth $30,000. BOKF NA purchased a new position in ABM Industries during the second quarter worth about $30,000. Adirondack Trust Co. increased its stake in ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after acquiring an additional 500 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in shares of ABM Industries in the 3rd quarter valued at about $37,000. Finally, GAMMA Investing LLC raised its holdings in shares of ABM Industries by 37.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 273 shares in the last quarter. 91.62% of the stock is owned by institutional investors.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $57.17 on Friday. The stock’s 50-day moving average is $54.19 and its 200 day moving average is $52.45. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 23.62 and a beta of 1.14. ABM Industries Incorporated has a 1-year low of $39.64 and a 1-year high of $59.78. 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 posted its quarterly 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. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the firm posted $0.79 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.225 per share. The ex-dividend date 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 currently 37.19%.

Insider Transactions 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 stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares in the company, valued at $2,442,229.60. This trade represents a 46.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ABM. UBS Group upped their price objective 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. Truist Financial raised their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, September 9th. Finally, Robert W. Baird upped their target price on shares of ABM Industries from $49.00 to $56.00 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.