Raymond James & Associates Has $4.29 Million Stake in ABM Industries Incorporated (NYSE:ABM)

Raymond James & Associates boosted its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,619 shares of the business services provider’s stock after purchasing an additional 708 shares during the period. Raymond James & Associates owned 0.15% of ABM Industries worth $4,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of ABM Industries in the 1st quarter valued at $284,000. Bank of Montreal Can increased its stake in shares of ABM Industries by 2.2% in the 1st quarter. Bank of Montreal Can now owns 21,837 shares of the business services provider’s stock valued at $1,000,000 after buying an additional 473 shares during the period. MetLife Investment Management LLC increased its stake in shares of ABM Industries by 53.8% in the 1st quarter. MetLife Investment Management LLC now owns 35,527 shares of the business services provider’s stock valued at $1,636,000 after buying an additional 12,425 shares during the period. Rhumbline Advisers increased its stake in shares of ABM Industries by 2.2% in the 1st quarter. Rhumbline Advisers now owns 193,026 shares of the business services provider’s stock valued at $8,887,000 after buying an additional 4,196 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of ABM Industries by 2.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 60,453 shares of the business services provider’s stock valued at $2,860,000 after buying an additional 1,246 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ABM shares. Truist Financial lifted their price objective on ABM Industries from $43.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, December 14th. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.20.

Insiders Place Their Bets

In other ABM Industries news, CAO Dean A. Chin sold 5,465 shares of ABM Industries stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the transaction, the chief accounting officer now directly owns 19,972 shares in the company, valued at $896,543.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Dean A. Chin sold 5,465 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now directly owns 19,972 shares in the company, valued at $896,543.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Rene Jacobsen sold 5,563 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now owns 111,677 shares in the company, valued at $4,868,000.43. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Stock Performance

ABM stock opened at $43.71 on Friday. The business’s 50-day moving average price is $42.19 and its two-hundred day moving average price is $42.16. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.77 billion, a PE ratio of 11.18 and a beta of 1.16. ABM Industries Incorporated has a 1-year low of $37.61 and a 1-year high of $53.05.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.01 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. As a group, research analysts forecast that ABM Industries Incorporated will post 3.37 earnings per share for the current year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a yield of 2.06%. ABM Industries’s dividend payout ratio is presently 23.02%.

ABM Industries 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.