Kingsview Wealth Management LLC Buys New Shares in ABM Industries Incorporated (NYSE:ABM)

Kingsview Wealth Management LLC purchased a new position in shares of ABM Industries Incorporated (NYSE:ABM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 36,693 shares of the business services provider’s stock, valued at approximately $1,936,000. Kingsview Wealth Management LLC owned 0.06% of ABM Industries as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of ABM Industries during the third quarter worth about $30,000. BOKF NA purchased a new position in ABM Industries during the 2nd quarter worth approximately $30,000. Adirondack Trust Co. lifted its stake in ABM Industries by 250.0% during the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 500 shares during the period. Copeland Capital Management LLC purchased a new stake in shares of ABM Industries in the 3rd quarter valued at $37,000. Finally, GAMMA Investing LLC increased its stake in shares of ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after acquiring an additional 273 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Insider Activity

In other 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 value of $2,158,400.00. Following the transaction, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This trade represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.04% of the company’s stock.

ABM Industries Trading Up 1.0 %

ABM stock opened at $57.36 on Tuesday. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78. 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 firm has a market cap of $3.60 billion, a P/E ratio of 23.70 and a beta of 1.14. The company’s 50-day simple moving average is $53.64 and its 200-day simple moving average is $52.15.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. The company had revenue of $2.09 billion for 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%. ABM Industries’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 earnings per share. As a group, equities analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.225 per share. 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 payout ratio is 37.19%.

Wall Street Analyst Weigh In

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

ABM Industries Company Profile

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.