Copeland Capital Management LLC Has $47.23 Million Stock Position in ABM Industries Incorporated (NYSE:ABM)

Copeland Capital Management LLC lowered its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 23.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,053,598 shares of the business services provider's stock after selling 329,041 shares during the period. Copeland Capital Management LLC owned about 1.68% of ABM Industries worth $47,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp raised its stake in shares of ABM Industries by 19.3% during the 1st quarter. State Street Corp now owns 7,059,579 shares of the business services provider's stock valued at $325,023,000 after purchasing an additional 1,140,097 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of ABM Industries by 353.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,396,596 shares of the business services provider's stock valued at $60,641,000 after purchasing an additional 1,088,389 shares during the period. Norges Bank bought a new stake in shares of ABM Industries during the 4th quarter valued at $28,698,000. Victory Capital Management Inc. raised its stake in shares of ABM Industries by 16.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,931,733 shares of the business services provider's stock valued at $85,808,000 after purchasing an additional 268,099 shares during the period. Finally, FMR LLC raised its stake in shares of ABM Industries by 178.7% during the 2nd quarter. FMR LLC now owns 398,426 shares of the business services provider's stock valued at $17,300,000 after purchasing an additional 255,471 shares during the period. Hedge funds and other institutional investors own 91.62% of the company's stock.

Wall Street Analysts Forecast Growth

ABM has been the topic of several recent analyst reports. StockNews.com cut ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, February 3rd. Truist Financial raised their price target on ABM Industries from $43.00 to $53.00 and gave the company a "hold" rating in a report on Thursday, December 14th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $45.20.

Insider Activity at ABM Industries

In related news, CAO Dean A. Chin sold 5,465 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the transaction, the chief accounting officer now directly owns 19,972 shares in the company, valued at approximately $896,543.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO Rene Jacobsen sold 5,563 shares of ABM Industries stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the sale, the chief operating officer now directly owns 111,677 shares in the company, valued at approximately $4,868,000.43. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Dean A. Chin sold 5,465 shares of ABM Industries stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the sale, the chief accounting officer now owns 19,972 shares in the company, valued at $896,543.08. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by insiders.

ABM Industries Price Performance

Shares of NYSE:ABM traded up $0.21 on Friday, hitting $44.62. The company's stock had a trading volume of 485,763 shares, compared to its average volume of 771,468. The company has a market capitalization of $2.82 billion, a PE ratio of 11.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $53.05. The company has a 50-day simple moving average of $41.79 and a 200 day simple moving average of $41.95.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.14. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.01 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. ABM Industries's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. Sell-side analysts forecast that ABM Industries Incorporated will post 3.37 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.02%. ABM Industries's dividend payout ratio is 23.02%.

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.