Edgestream Partners L.P. Has $5.85 Million Holdings in ABM Industries Incorporated (NYSE:ABM)

Edgestream Partners L.P. boosted its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 89.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,481 shares of the business services provider's stock after buying an additional 58,269 shares during the quarter. Edgestream Partners L.P. owned approximately 0.20% of ABM Industries worth $5,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of ABM Industries by 2,322.1% during the 4th quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider's stock valued at $60,582,000 after purchasing an additional 1,134,825 shares in the last quarter. Norges Bank acquired a new stake in ABM Industries in the 4th quarter worth $43,967,000. Nuveen Asset Management LLC grew its position in ABM Industries by 99.2% in the 4th 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 last quarter. Bank of America Corp DE grew its position in ABM Industries by 52.1% in 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 purchasing an additional 232,190 shares during the last quarter. Finally, Invesco Ltd. grew its position in ABM Industries by 14.8% in the 4th quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider's stock worth $77,666,000 after purchasing an additional 195,978 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at ABM Industries

In other news, Director Thomas M. Gartland sold 3,711 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $45.52, for a total value of $168,924.72. Following the transaction, the director directly owned 30,958 shares of the company's stock, valued at $1,409,208.16. This represents a 10.70% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 completion of the transaction, the chief executive officer directly 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 sold 73,335 shares of company stock valued at $3,730,745 over the last three months. Company insiders own 0.90% of the company's stock.

ABM Industries Stock Down 1.5%

Shares of ABM Industries stock traded down $0.74 on Friday, hitting $47.69. The company had a trading volume of 135,356 shares, compared to its average volume of 507,535. The firm has a market capitalization of $2.97 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.49 and a beta of 0.78. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.78. 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 stock has a 50-day moving average of $48.83 and a 200-day moving average of $49.65.

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). The business 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 business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. Research analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Dividend Announcement

The company 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 dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.22%. The ex-dividend date is Thursday, July 3rd. ABM Industries's dividend payout ratio (DPR) is currently 85.48%.

ABM Industries Company 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.