Universal Beteiligungs und Servicegesellschaft mbH Buys 19,365 Shares of ABM Industries Incorporated (NYSE:ABM)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has increased its stake in ABM Industries by 14.1%, now holding 156,989 shares worth approximately $7.4 million.
• ABM Industries reported Q2 earnings of $0.86 EPS, slightly missing estimates, but revenue increased by 4.6% year-over-year.
• The firm announced a quarterly dividend of $0.265 per share, yielding about 2.23%, with a payout ratio of 85.48%.

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 14.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,989 shares of the business services provider's stock after purchasing an additional 19,365 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.25% of ABM Industries worth $7,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Sterling Capital Management LLC grew 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 acquiring an additional 1,820 shares during the period. Palouse Capital Management Inc. grew its stake in shares of ABM Industries by 17.4% during the first quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock worth $143,000 after purchasing an additional 446 shares during the period. Raiffeisen Bank International AG bought a new position in ABM Industries during the fourth quarter worth about $190,000. Bridgefront Capital LLC acquired a new position in shares of ABM Industries during the 4th quarter worth about $204,000. Finally, Highland Capital Management LLC bought a new stake in shares of ABM Industries in the 1st quarter valued at about $207,000. Institutional investors own 91.62% of the company's stock.

Insider Buying and Selling

In related news, COO Rene Jacobsen sold 17,250 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $48.03, for a total value of $828,517.50. Following the completion of the sale, the chief operating officer directly owned 71,256 shares in the company, valued at approximately $3,422,425.68. This trade represents a 19.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sean Michael Mahoney sold 1,800 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total value of $90,054.00. Following the completion of the sale, the executive vice president owned 47,425 shares in the company, valued at $2,372,672.75. This represents a 3.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,335 shares of company stock worth $3,730,745. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABM shares. Robert W. Baird upgraded shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price objective for the company in a report on Monday, June 9th. Baird R W upgraded ABM Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. UBS Group upgraded 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. Wall Street Zen cut ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Truist Financial raised ABM Industries from a "hold" rating to a "buy" rating and increased their target price for the stock from $55.00 to $58.00 in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ABM Industries presently has an average rating of "Buy" and a consensus price target of $56.00.

ABM Industries Stock Down 1.2%

Shares of ABM stock traded down $0.55 on Monday, hitting $47.15. 365,122 shares of the stock were exchanged, compared to its average volume of 500,883. The firm has a market capitalization of $2.94 billion, a P/E ratio of 38.02 and a beta of 0.78. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $59.78. The business has a 50-day moving average of $48.35 and a 200 day moving average of $49.49. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly 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 business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.07 billion. ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Equities analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current 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 given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, July 3rd. ABM Industries's dividend payout ratio (DPR) is 85.48%.

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.