9,770 Shares in ABM Industries Incorporated (NYSE:ABM) Purchased by Liberty Wealth Management LLC

Liberty Wealth Management LLC purchased a new stake in ABM Industries Incorporated (NYSE:ABM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,770 shares of the business services provider’s stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABM. Norges Bank acquired a new stake in shares of ABM Industries in the fourth quarter worth approximately $31,310,000. Pzena Investment Management LLC acquired a new position in shares of ABM Industries in the 2nd quarter valued at $21,032,000. LSV Asset Management purchased a new stake in shares of ABM Industries during the 1st quarter valued at $17,645,000. SG Capital Management LLC acquired a new stake in shares of ABM Industries during the 1st quarter worth $13,730,000. Finally, Invenomic Capital Management LP purchased a new position in shares of ABM Industries in the 1st quarter worth $10,071,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Wall Street Analyst Weigh In

ABM has been the subject of a number of research reports. StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their target price on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday. Truist Financial raised their price target on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday. Finally, UBS Group boosted their price objective on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, ABM Industries has a consensus rating of “Hold” and a consensus price target of $53.50.

Insiders Place Their Bets

In other news, CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $50.70, for a total transaction of $103,529.40. Following the completion of the sale, the chief accounting officer now directly owns 18,493 shares in the company, valued at $937,595.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ABM Industries news, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total transaction of $646,418.88. Following the transaction, the chief executive officer now directly owns 366,655 shares in the company, valued at approximately $20,195,357.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $50.70, for a total transaction of $103,529.40. Following the transaction, the chief accounting officer now directly owns 18,493 shares of the company’s stock, valued at $937,595.10. The disclosure for this sale can be found here. Insiders have sold 78,778 shares of company stock worth $4,039,248 in the last quarter. 1.04% of the stock is owned by corporate insiders.

ABM Industries Price Performance

Shares of NYSE ABM opened at $49.91 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.44. ABM Industries Incorporated has a 1-year low of $38.48 and a 1-year high of $59.78. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 13.07 and a beta of 1.14. The business has a 50-day moving average of $53.52 and a 200-day moving average of $48.36.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. The firm 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%. ABM Industries’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. On average, equities analysts anticipate that ABM Industries Incorporated will post 3.49 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is 23.56%.

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.