ABM Industries Incorporated (NYSE:ABM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,396 shares of the business services provider's stock after selling 9,212 shares during the quarter. New York State Teachers Retirement System owned approximately 0.14% of ABM Industries worth $4,139,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ABM. American Century Companies Inc. boosted its stake in shares of ABM Industries by 2,322.1% in 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 buying an additional 1,134,825 shares during the period. Norges Bank purchased a new position in shares of ABM Industries in the 4th quarter valued at about $43,967,000. Nuveen Asset Management LLC boosted its stake in shares of 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 valued at $34,355,000 after buying an additional 334,295 shares during the period. Bank of America Corp DE boosted its stake in shares of 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 valued at $34,690,000 after buying an additional 232,190 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of ABM Industries by 14.8% in the 4th quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider's stock valued at $77,666,000 after buying an additional 195,978 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Scott B. Salmirs sold 37,065 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 369,656 shares in the company, valued at approximately $19,358,884.72. This represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sean Michael Mahoney sold 1,800 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total value of $90,054.00. Following the transaction, the executive vice president owned 47,425 shares in the company, valued at $2,372,672.75. This trade represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,085 shares of company stock worth $2,902,227. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ABM shares. Baird R W upgraded ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. UBS Group upgraded 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 note on Monday, June 9th. Robert W. Baird upgraded ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price objective for the company in a research note on Monday, June 9th. Truist Financial upgraded ABM Industries from a "hold" rating to a "buy" rating and boosted their price objective for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Finally, Wall Street Zen upgraded ABM Industries from a "hold" rating to a "buy" rating in a research note on Saturday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $56.00.

ABM Industries Stock Performance

Shares of NYSE:ABM traded up $0.26 during trading on Monday, reaching $48.19. The company had a trading volume of 765,555 shares, compared to its average volume of 477,750. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 2.48 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 stock's fifty day moving average price is $48.99 and its 200 day moving average price is $49.78. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $59.78.

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

ABM Industries Announces Dividend

The company also recently announced 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 of this dividend is Thursday, July 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.20%. ABM Industries's payout ratio is 85.48%.

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.