Segall Bryant & Hamill LLC Invests $3.97 Million in ABM Industries Incorporated (NYSE:ABM)

Segall Bryant & Hamill LLC acquired a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. 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 about 0.13% of ABM Industries at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABM. Raymond James Financial Inc. bought a new position in ABM Industries in the 4th quarter valued at approximately $3,502,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ABM Industries by 16.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,331 shares of the business services provider's stock worth $836,000 after purchasing an additional 2,259 shares during the period. HighTower Advisors LLC grew its holdings in ABM Industries by 3.0% in the fourth quarter. HighTower Advisors LLC now owns 20,036 shares of the business services provider's stock worth $1,025,000 after purchasing an additional 588 shares during the period. Swiss National Bank lifted its stake in shares of ABM Industries by 0.7% in the fourth quarter. Swiss National Bank now owns 123,500 shares of the business services provider's stock valued at $6,321,000 after buying an additional 900 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of ABM Industries by 112.8% in the fourth quarter. Corient Private Wealth LLC now owns 18,684 shares of the business services provider's stock valued at $956,000 after buying an additional 9,904 shares in the last quarter. Institutional investors own 91.62% of the company's stock.

Analyst Upgrades and Downgrades

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

ABM Industries Stock Down 1.4%

NYSE ABM traded down $0.67 during trading hours on Friday, reaching $47.75. 353,423 shares of the company's stock traded hands, compared to its average volume of 479,800. ABM Industries Incorporated has a 52-week low of $40.85 and a 52-week high of $59.78. The firm has a market cap of $2.97 billion, a PE ratio of 38.51, a PEG ratio of 2.47 and a beta of 0.78. The firm has a 50-day simple moving average of $48.77 and a 200 day simple moving average of $49.62. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.55.

ABM Industries (NYSE:ABM - Get Free Report) last issued its earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). The firm had revenue of $2.11 billion during 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 last year, the firm posted $0.87 earnings per share. Sell-side analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors 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 dividend yield of 2.22%. ABM Industries's dividend payout ratio is 85.48%.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 17,250 shares of the stock in a transaction dated Monday, July 7th. The shares were 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 in the company, valued at $3,422,425.68. This represents a 19.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owned 369,656 shares in the company, valued at approximately $19,358,884.72. The trade was a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,335 shares of company stock worth $3,730,745 over the last three months. 0.90% of the stock is owned by company insiders.

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.