Tidal Investments LLC Has $1.25 Million Holdings in ABM Industries Incorporated (NYSE:ABM)

Tidal Investments LLC lifted its position in shares of ABM Industries Incorporated (NYSE:ABM) by 176.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,761 shares of the business services provider’s stock after purchasing an additional 15,163 shares during the quarter. Tidal Investments LLC’s holdings in ABM Industries were worth $1,254,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Foundry Partners LLC raised its holdings in ABM Industries by 694.2% during the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock worth $4,583,000 after buying an additional 75,930 shares during the last quarter. Citigroup Inc. raised its holdings in shares of ABM Industries by 51.3% in the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock worth $5,329,000 after acquiring an additional 34,254 shares during the last quarter. Algert Global LLC raised its holdings in shares of ABM Industries by 50.8% in the 2nd quarter. Algert Global LLC now owns 200,497 shares of the business services provider’s stock worth $10,139,000 after acquiring an additional 67,560 shares during the last quarter. Jane Street Group LLC lifted its position in ABM Industries by 91.8% in the 3rd quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after acquiring an additional 39,300 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in ABM Industries by 138.3% during the 3rd quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock valued at $1,362,000 after purchasing an additional 14,977 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird raised their target price on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, September 9th. UBS Group raised their price objective on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, Truist Financial upped their target price on shares of ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, September 9th.

Insider Transactions at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of the 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 completion of the transaction, the chief financial officer now owns 45,260 shares in the company, valued at approximately $2,442,229.60. This represents a 46.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.04% of the stock is currently owned by company insiders.

ABM Industries Stock Performance

Shares of ABM opened at $50.32 on Thursday. The stock has a 50 day moving average of $55.42 and a 200 day moving average of $53.36. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 20.79 and a beta of 1.14. ABM Industries Incorporated has a 12 month low of $39.64 and a 12 month 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 announced its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. As a group, sell-side analysts forecast that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.265 per share. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries’s dividend payout ratio is currently 43.80%.

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.