New York State Teachers Retirement System Sells 9,212 Shares of ABM Industries Incorporated (NYSE:ABM)

New York State Teachers Retirement System lessened its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,396 shares of the business services provider's stock after selling 9,212 shares during the period. New York State Teachers Retirement System owned about 0.14% of ABM Industries worth $4,139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. raised its stake in ABM Industries by 321.3% during the 4th quarter. Sei Investments Co. now owns 153,193 shares of the business services provider's stock worth $7,840,000 after buying an additional 116,827 shares during the period. Janney Montgomery Scott LLC increased its holdings in ABM Industries by 3.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,736 shares of the business services provider's stock worth $1,456,000 after acquiring an additional 910 shares during the period. Wells Fargo & Company MN increased its stake 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 worth $2,155,000 after acquiring an additional 7,904 shares during the last quarter. Deutsche Bank AG increased its position in shares of ABM Industries by 40.8% in the fourth quarter. Deutsche Bank AG now owns 60,678 shares of the business services provider's stock worth $3,106,000 after purchasing an additional 17,584 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of ABM Industries in the 4th quarter worth $3,502,000. Institutional investors own 91.62% of the company's stock.

Insider Buying and Selling at ABM Industries

In other news, CEO Scott B. Salmirs sold 37,065 shares of ABM Industries stock in a transaction that occurred on 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 of the company's stock, valued at $19,358,884.72. The trade was a 9.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas M. Gartland sold 3,711 shares of ABM Industries stock in a transaction on Friday, June 13th. The stock was sold at an average price of $45.52, for a total transaction of $168,924.72. Following the sale, the director directly owned 30,958 shares in the company, valued at approximately $1,409,208.16. This trade represents a 10.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,085 shares of company stock worth $2,902,227. Company insiders own 0.90% of the company's stock.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $47.93 on Monday. The firm has a fifty day moving average price of $48.99 and a 200-day moving average price of $49.78. 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 market cap of $2.98 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 2.48 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 released its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.87 EPS. Equities analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, July 3rd. ABM Industries's payout ratio is 85.48%.

Analyst Ratings Changes

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

About ABM Industries

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.

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