Kennondale Capital Management LLC Has $1.68 Million Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Kennondale Capital Management LLC lifted its stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 208.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,436 shares of the business services provider's stock after buying an additional 23,950 shares during the quarter. ABM Industries accounts for approximately 1.8% of Kennondale Capital Management LLC's holdings, making the stock its 20th largest holding. Kennondale Capital Management LLC owned about 0.06% of ABM Industries worth $1,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in ABM Industries by 834.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock worth $104,000 after purchasing an additional 1,820 shares during the last quarter. Palouse Capital Management Inc. grew its position in shares of ABM Industries by 17.4% in the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock worth $143,000 after acquiring an additional 446 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of ABM Industries in the 4th quarter worth approximately $190,000. Bridgefront Capital LLC acquired a new position in shares of ABM Industries in the 4th quarter worth approximately $204,000. Finally, Highland Capital Management LLC acquired a new position in shares of ABM Industries in the 1st quarter worth approximately $207,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen upgraded ABM Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. UBS Group upgraded ABM Industries from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $50.00 to $54.00 in a research report on Monday, June 9th. Truist Financial upgraded ABM Industries from a "hold" rating to a "buy" rating and lifted their target price for the stock from $55.00 to $58.00 in a research report on Wednesday, July 2nd. Robert W. Baird upgraded ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price for the company in a research report on Monday, June 9th. Finally, Baird R W upgraded 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. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $56.00.

ABM Industries Stock Performance

NYSE:ABM traded down $0.52 during midday trading on Thursday, reaching $47.57. 215,784 shares of the company traded hands, compared to its average volume of 502,845. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.78. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 38.36, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. 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 company has a fifty day moving average price of $48.55 and a 200 day moving average price of $49.55.

ABM Industries (NYSE:ABM - Get Free Report) last released its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 earnings per share (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 company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Dividend Announcement

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 dividend of $0.265 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.23%. ABM Industries's dividend payout ratio (DPR) is presently 85.48%.

Insiders Place Their Bets

In other news, COO Rene Jacobsen sold 17,250 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $48.03, for a total value of $828,517.50. Following the sale, the chief operating officer owned 71,256 shares of the company's stock, valued at approximately $3,422,425.68. The trade was a 19.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief executive officer directly owned 369,656 shares in the company, valued at $19,358,884.72. This represents a 9.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,335 shares of company stock worth $3,730,745. 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.