ABM Industries Incorporated (NYSE:ABM) Shares Bought by Universal Beteiligungs und Servicegesellschaft mbH

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 increased its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 14.1% in the first quarter, according to the company in its most recent 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 approximately 0.25% of ABM Industries worth $7,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Guidance Capital Inc. grew its holdings in shares of ABM Industries by 16.1% in the 1st quarter. Guidance Capital Inc. now owns 10,168 shares of the business services provider's stock valued at $505,000 after acquiring an additional 1,408 shares in the last quarter. Kennondale Capital Management LLC raised its holdings in ABM Industries by 208.5% in the 1st quarter. Kennondale Capital Management LLC now owns 35,436 shares of the business services provider's stock valued at $1,678,000 after acquiring an additional 23,950 shares during the period. Foundry Partners LLC increased its holdings in shares of ABM Industries by 1.2% during the first quarter. Foundry Partners LLC now owns 101,811 shares of the business services provider's stock worth $4,822,000 after purchasing an additional 1,234 shares during the period. Hussman Strategic Advisors Inc. bought a new position in shares of ABM Industries during the first quarter worth approximately $2,984,000. Finally, Verdence Capital Advisors LLC increased its stake in ABM Industries by 54.0% in the first quarter. Verdence Capital Advisors LLC now owns 10,012 shares of the business services provider's stock valued at $474,000 after acquiring an additional 3,509 shares during the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial upgraded shares of ABM Industries from a "hold" rating to a "buy" rating and raised their target price for the company from $55.00 to $58.00 in a research report on Wednesday, July 2nd. UBS Group raised shares of ABM Industries from a "neutral" rating to a "buy" rating and upped their price target for the company from $50.00 to $54.00 in a research report on Monday, June 9th. Wall Street Zen lowered shares of ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday. 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, Robert W. Baird raised shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price for the company in a research report on Monday, June 9th. One equities research 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $56.00.

Insider Buying and Selling at ABM Industries

In other news, COO Rene Jacobsen sold 17,250 shares of the company's 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 sale, the chief operating officer directly owned 71,256 shares in the company, valued at approximately $3,422,425.68. This represents a 19.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean Michael Mahoney sold 1,800 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was 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 owned 47,425 shares of the company's stock, valued at $2,372,672.75. This trade represents a 3.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,335 shares of company stock valued at $3,730,745 in the last ninety days. Corporate insiders own 0.90% of the company's stock.

ABM Industries Price Performance

NYSE ABM traded down $0.52 on Wednesday, hitting $46.48. The stock had a trading volume of 491,897 shares, compared to its average volume of 475,003. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 37.48 and a beta of 0.78. 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 Incorporated has a 52-week low of $40.85 and a 52-week high of $59.78. The firm has a 50-day moving average of $48.13 and a 200-day moving average of $49.45.

ABM Industries (NYSE:ABM - Get Free Report) last announced its earnings results 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 net margin of 0.93% and a return on equity of 12.54%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $0.87 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.28%. ABM Industries's payout ratio 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.