KLP Kapitalforvaltning AS Has $592,000 Holdings in ABM Industries Incorporated (NYSE:ABM)

KLP Kapitalforvaltning AS cut its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 43.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,500 shares of the business services provider's stock after selling 9,600 shares during the period. KLP Kapitalforvaltning AS's holdings in ABM Industries were worth $592,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in ABM Industries during the 4th quarter worth approximately $43,967,000. Nuveen Asset Management LLC lifted its holdings in shares of ABM Industries by 99.2% during the fourth quarter. Nuveen Asset Management LLC now owns 671,266 shares of the business services provider's stock worth $34,355,000 after purchasing an additional 334,295 shares during the period. Bank of America Corp DE lifted its holdings in ABM Industries by 52.1% during the 4th quarter. Bank of America Corp DE now owns 677,811 shares of the business services provider's stock worth $34,690,000 after buying an additional 232,190 shares during the period. Invesco Ltd. raised its position in shares of ABM Industries by 14.8% during the fourth quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider's stock worth $77,666,000 after acquiring an additional 195,978 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of ABM Industries by 2,101.3% in the fourth quarter. Captrust Financial Advisors now owns 172,057 shares of the business services provider's stock worth $8,806,000 after acquiring an additional 164,241 shares during the period. 91.62% of the stock is currently owned by institutional investors.

Insider Transactions at ABM Industries

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

ABM Industries Stock Down 1.5%

Shares of NYSE ABM traded down $0.69 during midday trading on Friday, reaching $45.45. 468,419 shares of the company's stock traded hands, compared to its average volume of 456,062. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 36.65 and a beta of 0.80. ABM Industries Incorporated has a one year low of $40.85 and a one year high of $59.78. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. The stock's 50 day simple moving average is $47.81 and its 200-day simple moving average is $49.34.

ABM Industries (NYSE:ABM - Get Free Report) last announced its earnings results 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). The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. ABM Industries's revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. On average, analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.3%. ABM Industries's payout ratio is 85.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. 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. Wall Street Zen downgraded ABM Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Truist Financial raised ABM Industries from a "hold" rating to a "buy" rating and raised their target price for the company from $55.00 to $58.00 in a research report on Wednesday, July 2nd. UBS Group raised shares of ABM Industries from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $50.00 to $54.00 in a report on Monday, June 9th. Finally, Robert W. Baird raised shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price objective on the stock in a research report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $56.00.

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.