Teacher Retirement System of Texas Sells 25,036 Shares of ABM Industries Incorporated (NYSE:ABM)

Teacher Retirement System of Texas lowered its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 68.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,324 shares of the business services provider's stock after selling 25,036 shares during the period. Teacher Retirement System of Texas' holdings in ABM Industries were worth $536,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABM. American Century Companies Inc. grew its stake in shares of ABM Industries by 2,322.1% in the fourth quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider's stock worth $60,582,000 after purchasing an additional 1,134,825 shares during the last quarter. Norges Bank bought a new stake in ABM Industries during the fourth quarter valued at $43,967,000. Nuveen Asset Management LLC boosted its position in 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 valued at $34,355,000 after acquiring an additional 334,295 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of ABM Industries by 52.1% during the fourth quarter. Bank of America Corp DE now owns 677,811 shares of the business services provider's stock valued at $34,690,000 after purchasing an additional 232,190 shares during the period. Finally, Invesco Ltd. raised its holdings 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 valued at $77,666,000 after purchasing an additional 195,978 shares during the period. Institutional investors own 91.62% of the company's stock.

ABM Industries Stock Down 1.4%

ABM traded down $0.67 during midday trading on Friday, reaching $47.75. The company's stock had a trading volume of 353,423 shares, compared to its average volume of 479,481. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 2.49 and a beta of 0.78. 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 1 year low of $40.85 and a 1 year high of $59.78. The stock's 50-day moving average is $48.83 and its 200-day moving average is $49.65.

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

ABM Industries Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 17,250 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $48.03, for a total value of $828,517.50. Following the transaction, the chief operating officer directly owned 71,256 shares in the company, valued at approximately $3,422,425.68. This trade represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott B. Salmirs sold 37,065 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $52.37, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 73,335 shares of company stock valued at $3,730,745 over the last three months. Insiders own 0.90% of the company's stock.

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.