Segall Bryant & Hamill LLC Takes Position in ABM Industries Incorporated (NYSE:ABM)

Segall Bryant & Hamill LLC acquired a new position in ABM Industries Incorporated (NYSE:ABM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 83,883 shares of the business services provider's stock, valued at approximately $3,973,000. Segall Bryant & Hamill LLC owned 0.13% of ABM Industries as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC grew its stake 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 valued at $104,000 after acquiring an additional 1,820 shares in the last quarter. Palouse Capital Management Inc. grew its stake in ABM Industries by 17.4% during the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock valued at $143,000 after acquiring an additional 446 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in ABM Industries during the 4th quarter valued at about $190,000. Bridgefront Capital LLC purchased a new stake in ABM Industries during the 4th quarter valued at about $204,000. Finally, PharVision Advisers LLC purchased a new stake in ABM Industries during the 4th quarter valued at about $213,000. Institutional investors and hedge funds own 91.62% of the company's stock.

Insider Activity at ABM Industries

In related news, EVP Sean Michael Mahoney sold 1,800 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the sale, the executive vice president directly owned 47,425 shares of the company's stock, valued at approximately $2,372,672.75. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rene Jacobsen sold 17,250 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $48.03, for a total transaction of $828,517.50. Following the transaction, the chief operating officer directly owned 71,256 shares of the company's stock, valued at approximately $3,422,425.68. This represents a 19.49% 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 worth $3,730,745. Company insiders own 0.90% of the company's stock.

ABM Industries Price Performance

ABM stock traded up $0.40 during trading on Tuesday, reaching $47.91. 279,099 shares of the company were exchanged, compared to its average volume of 479,155. The company has a market cap of $2.98 billion, a P/E ratio of 38.63, a PEG ratio of 2.45 and a beta of 0.78. ABM Industries Incorporated has a 52-week low of $40.85 and a 52-week high of $59.78. The stock's 50 day moving average price is $48.62 and its 200 day moving average price is $49.56. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.55 and a current ratio of 1.55.

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

ABM Industries Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Thursday, July 3rd. ABM Industries's dividend payout ratio is currently 85.48%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial raised shares of ABM Industries from a "hold" rating to a "buy" rating and increased their price objective for the stock from $55.00 to $58.00 in a research 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 report on Monday, June 9th. Wall Street Zen raised shares of ABM Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Finally, UBS Group raised shares of ABM Industries from a "neutral" rating to a "buy" rating and lifted their target price for the company from $50.00 to $54.00 in a report on Monday, June 9th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ABM Industries currently has a consensus rating of "Buy" and an average price target of $56.00.

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.