ABM Industries Incorporated (NYSE:ABM) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. increased its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 89.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,481 shares of the business services provider's stock after acquiring an additional 58,269 shares during the period. Edgestream Partners L.P. owned about 0.20% of ABM Industries worth $5,848,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in ABM Industries by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 347,496 shares of the business services provider's stock worth $16,457,000 after acquiring an additional 5,880 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in ABM Industries by 12.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider's stock valued at $289,000 after purchasing an additional 693 shares in the last quarter. Sei Investments Co. raised its position in ABM Industries by 321.3% in the 4th quarter. Sei Investments Co. now owns 153,193 shares of the business services provider's stock valued at $7,840,000 after purchasing an additional 116,827 shares in the last quarter. Janney Montgomery Scott LLC raised its position in ABM Industries by 3.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 30,736 shares of the business services provider's stock valued at $1,456,000 after purchasing an additional 910 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in ABM Industries by 23.1% in the 4th quarter. Wells Fargo & Company MN now owns 42,103 shares of the business services provider's stock valued at $2,155,000 after purchasing an additional 7,904 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company's stock.

Insider Transactions at ABM Industries

In other news, Director Thomas M. Gartland sold 3,711 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $45.52, for a total value of $168,924.72. Following the completion of the transaction, the director directly owned 30,958 shares of the company's stock, valued at $1,409,208.16. The trade was a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott B. Salmirs sold 37,065 shares of the business's stock in a transaction on Thursday, May 15th. The stock was 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 directly owned 369,656 shares of the company's stock, valued at approximately $19,358,884.72. This trade represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,335 shares of company stock valued at $3,730,745. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

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

ABM Industries Price Performance

Shares of ABM traded up $0.27 during mid-day trading on Wednesday, hitting $48.16. The company's stock had a trading volume of 525,367 shares, compared to its average volume of 479,491. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83. The firm has a 50-day simple moving average of $48.88 and a 200 day simple moving average of $49.67. The firm has a market capitalization of $3.00 billion, a P/E ratio of 38.84, a P/E/G ratio of 2.47 and a beta of 0.78. 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 posted its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). The business had revenue of $2.11 billion during 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%. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. Analysts predict that ABM Industries Incorporated will post 3.71 EPS 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. Investors of record on Thursday, July 3rd will be issued 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 yield of 2.20%. ABM Industries's dividend payout ratio is presently 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.