ABM Industries Incorporated (NYSE:ABM) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC reduced its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,584 shares of the business services provider's stock after selling 5,698 shares during the period. Easterly Investment Partners LLC owned 0.21% of ABM Industries worth $6,042,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in ABM Industries by 1.7% during the first quarter. Principal Financial Group Inc. now owns 347,496 shares of the business services provider's stock worth $16,457,000 after purchasing an additional 5,880 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of ABM Industries by 12.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider's stock valued at $289,000 after acquiring an additional 693 shares during the last quarter. Sei Investments Co. increased its position in shares of ABM Industries by 321.3% during the fourth quarter. Sei Investments Co. now owns 153,193 shares of the business services provider's stock valued at $7,840,000 after acquiring an additional 116,827 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of ABM Industries by 3.1% during the first quarter. Janney Montgomery Scott LLC now owns 30,736 shares of the business services provider's stock valued at $1,456,000 after acquiring an additional 910 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of ABM Industries by 23.1% during the fourth quarter. Wells Fargo & Company MN now owns 42,103 shares of the business services provider's stock valued at $2,155,000 after acquiring an additional 7,904 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Robert W. Baird upgraded shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price target for the company in a research report on Monday, June 9th. UBS Group upgraded shares of ABM Industries from a "neutral" rating to a "buy" rating and lifted their price target for the company from $50.00 to $54.00 in a research report on Monday, June 9th. Truist Financial upgraded shares of ABM Industries from a "hold" rating to a "buy" rating and lifted their price target for the company from $55.00 to $58.00 in a research report on Wednesday, July 2nd. Wall Street Zen upgraded shares of ABM Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $56.00.

ABM Industries Stock Down 1.4%

Shares of ABM stock traded down $0.67 during trading on Friday, reaching $47.75. The company's stock had a trading volume of 353,423 shares, compared to its average volume of 479,483. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 38.51, a P/E/G ratio of 2.49 and a beta of 0.78. The stock's 50-day moving average price is $48.83 and its 200 day moving average price is $49.65. ABM Industries Incorporated has a 1-year low of $40.85 and a 1-year high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). ABM Industries had a return on equity of 12.54% and a net margin of 0.93%. The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The firm's revenue was up 4.6% compared to the same quarter last year. On average, research analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.22%. ABM Industries's dividend payout ratio is currently 85.48%.

Insider Activity

In related news, CEO Scott B. Salmirs sold 37,065 shares of ABM Industries stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $52.37, for a total value of $1,941,094.05. Following the completion of the transaction, the chief executive officer owned 369,656 shares in the company, valued at $19,358,884.72. The trade was a 9.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas M. Gartland sold 3,711 shares of ABM Industries stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $45.52, for a total transaction of $168,924.72. Following the completion of the transaction, the director owned 30,958 shares of the company's stock, valued at $1,409,208.16. This represents a 10.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,335 shares of company stock worth $3,730,745 over the last three months. Insiders own 0.90% of the company's stock.

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.