Easterly Investment Partners LLC Sells 5,698 Shares of ABM Industries Incorporated (NYSE:ABM)

Easterly Investment Partners LLC reduced its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,584 shares of the business services provider's stock after selling 5,698 shares during the period. Easterly Investment Partners LLC owned approximately 0.21% of ABM Industries worth $6,042,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ABM. Verdence Capital Advisors LLC boosted its stake in shares of ABM Industries by 54.0% during the 1st quarter. Verdence Capital Advisors LLC now owns 10,012 shares of the business services provider's stock worth $474,000 after acquiring an additional 3,509 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of ABM Industries during the 1st quarter worth approximately $3,973,000. Victory Capital Management Inc. boosted its stake in shares of ABM Industries by 28.5% during the 1st quarter. Victory Capital Management Inc. now owns 175,453 shares of the business services provider's stock worth $8,309,000 after acquiring an additional 38,959 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of ABM Industries by 89.4% during the 1st quarter. Edgestream Partners L.P. now owns 123,481 shares of the business services provider's stock worth $5,848,000 after acquiring an additional 58,269 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in shares of ABM Industries by 55.6% during the 1st quarter. Bleakley Financial Group LLC now owns 12,103 shares of the business services provider's stock worth $573,000 after acquiring an additional 4,324 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Sean Michael Mahoney sold 1,800 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the transaction, the executive vice president owned 47,425 shares in the company, valued at approximately $2,372,672.75. This represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott B. Salmirs sold 37,065 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $52.37, for a total transaction of $1,941,094.05. Following the transaction, the chief executive officer owned 369,656 shares of the company's stock, valued at approximately $19,358,884.72. The trade was a 9.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,335 shares of company stock valued at $3,730,745. Company insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

ABM has been the subject of several analyst reports. Wall Street Zen upgraded ABM Industries from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Truist Financial upgraded ABM Industries from a "hold" rating to a "buy" rating and upped their price objective for the stock from $55.00 to $58.00 in a report on Wednesday, July 2nd. Robert W. Baird upgraded ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price objective for the company in a report on Monday, June 9th. UBS Group upgraded ABM Industries from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $50.00 to $54.00 in a report on Monday, June 9th. Finally, Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $56.00.

ABM Industries Stock Down 1.4%

Shares of ABM stock traded down $0.67 during trading hours on Friday, hitting $47.75. 353,423 shares of the company were exchanged, compared to its average volume of 479,800. The business has a 50 day moving average of $48.77 and a two-hundred day moving average of $49.61. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83. ABM Industries Incorporated has a 52 week low of $40.85 and a 52 week high of $59.78. The company has a market capitalization of $2.97 billion, a PE ratio of 38.51, a PEG ratio of 2.47 and a beta of 0.78.

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

ABM Industries Announces Dividend

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

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.