Tidal Investments LLC Grows Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Tidal Investments LLC grew its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 176.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,761 shares of the business services provider’s stock after acquiring an additional 15,163 shares during the period. Tidal Investments LLC’s holdings in ABM Industries were worth $1,254,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ABM. Foundry Partners LLC raised its stake in shares of ABM Industries by 694.2% during the 3rd quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock valued at $4,583,000 after purchasing an additional 75,930 shares during the period. Citigroup Inc. increased its position in shares of ABM Industries by 51.3% during the third quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock valued at $5,329,000 after buying an additional 34,254 shares during the period. Algert Global LLC lifted its holdings in shares of ABM Industries by 50.8% in the second quarter. Algert Global LLC now owns 200,497 shares of the business services provider’s stock worth $10,139,000 after buying an additional 67,560 shares in the last quarter. Jane Street Group LLC boosted its position in shares of ABM Industries by 91.8% in the third quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after acquiring an additional 39,300 shares during the period. Finally, Intech Investment Management LLC grew its stake in ABM Industries by 138.3% during the third quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock valued at $1,362,000 after acquiring an additional 14,977 shares in the last quarter. 91.62% of the stock is owned by institutional investors.

Insider Activity

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was 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 of the company’s stock, valued at $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

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

ABM Industries Trading Down 8.4 %

Shares of ABM opened at $50.32 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. ABM Industries Incorporated has a 1-year low of $39.64 and a 1-year high of $59.78. The company has a market capitalization of $3.16 billion, a P/E ratio of 20.79 and a beta of 1.14. The firm’s 50 day simple moving average is $55.42 and its 200 day simple moving average is $53.36.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. Sell-side analysts forecast that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be issued a $0.265 dividend. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, January 2nd. ABM Industries’s dividend payout ratio is presently 43.80%.

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.