SG Americas Securities LLC Trims Holdings in ABM Industries Incorporated (NYSE:ABM)

SG Americas Securities LLC reduced its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 9.7% in the third quarter, HoldingsChannel reports. The fund owned 2,423 shares of the business services provider’s stock after selling 259 shares during the period. SG Americas Securities LLC’s holdings in ABM Industries were worth $128,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. BOKF NA bought a new position in shares of ABM Industries during the second quarter valued at approximately $30,000. Adirondack Trust Co. grew its stake in shares of 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 buying an additional 500 shares during the last quarter. Lazard Asset Management LLC increased its position in ABM Industries by 2,102.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after buying an additional 1,030 shares in the last quarter. GAMMA Investing LLC raised its stake in ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after buying an additional 273 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in ABM Industries in the second quarter worth $142,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the sale, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.04% of the stock is owned by corporate insiders.

ABM Industries Trading Down 0.7 %

Shares of NYSE:ABM opened at $52.79 on Friday. 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 Incorporated has a 1 year low of $38.48 and a 1 year high of $59.78. The company has a market cap of $3.31 billion, a P/E ratio of 13.82 and a beta of 1.14. The stock’s fifty day moving average price is $53.07 and its 200-day moving average price is $50.47.

ABM Industries (NYSE:ABM) last posted its earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. Sell-side analysts expect that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio is 23.56%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their price target on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a 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 note 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 note on Monday, September 9th. Finally, StockNews.com cut shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

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.