5,041 Shares in ABM Industries Incorporated (NYSE:ABM) Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in ABM Industries Incorporated (NYSE:ABM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,041 shares of the business services provider’s stock, valued at approximately $266,000.

Several other hedge funds also recently bought and sold shares of the company. CWM LLC raised its stake in ABM Industries by 214.6% during the 2nd quarter. CWM LLC now owns 3,017 shares of the business services provider’s stock worth $153,000 after buying an additional 2,058 shares during the period. Neo Ivy Capital Management bought a new position in shares of ABM Industries during the 2nd quarter valued at about $3,682,000. SummerHaven Investment Management LLC grew its position in shares of ABM Industries by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock valued at $891,000 after purchasing an additional 324 shares during the period. Louisiana State Employees Retirement System increased its stake in ABM Industries by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the business services provider’s stock worth $1,608,000 after purchasing an additional 700 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in ABM Industries by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 656,652 shares of the business services provider’s stock worth $33,207,000 after buying an additional 13,126 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the sale, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This trade represents a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.04% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th. UBS Group increased their target price on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Robert W. Baird boosted their price target on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, September 9th.

ABM Industries Stock Performance

Shares of ABM opened at $56.10 on Friday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 23.18 and a beta of 1.14. ABM Industries Incorporated has a 12 month low of $39.64 and a 12 month high of $59.78. The firm has a fifty day simple moving average of $55.28 and a 200 day simple moving average of $53.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71.

ABM Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries’s dividend payout ratio is currently 37.19%.

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.