Versor Investments LP Boosts Holdings in ABM Industries Incorporated (NYSE:ABM)

Versor Investments LP raised its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 180.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,000 shares of the business services provider’s stock after acquiring an additional 10,300 shares during the period. Versor Investments LP’s holdings in ABM Industries were worth $844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Algert Global LLC lifted its position 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 valued at $10,139,000 after purchasing an additional 67,560 shares during the last quarter. Boston Partners increased its holdings in shares of ABM Industries by 152.2% in the 1st quarter. Boston Partners now owns 24,125 shares of the business services provider’s stock worth $1,076,000 after purchasing an additional 14,560 shares in the last quarter. SG Capital Management LLC bought a new position in ABM Industries during the first quarter valued at approximately $13,730,000. Janney Montgomery Scott LLC purchased a new stake in ABM Industries during the 1st quarter valued at $481,000. Finally, Seven Eight Capital LP purchased a new position in ABM Industries in the second quarter worth about $614,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Stock Performance

Shares of ABM stock opened at $57.39 on Wednesday. The business has a fifty day moving average of $52.97 and a 200 day moving average of $51.51. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 23.71 and a beta of 1.14. ABM Industries Incorporated has a 1 year low of $39.43 and a 1 year high of $59.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38.

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 the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. As a group, research analysts expect that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Announces Dividend

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

Insider Buying and Selling at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction 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 owns 45,260 shares in the company, valued at $2,442,229.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.04% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. 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. Truist Financial upped their price target on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, September 9th. StockNews.com cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird upped 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.

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.