Healthcare of Ontario Pension Plan Trust Fund Trims Stock Position in ABM Industries Incorporated (NYSE:ABM)

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 10.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,000 shares of the business services provider’s stock after selling 3,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ABM Industries were worth $1,372,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Lazard Asset Management LLC increased its position in ABM Industries by 2,102.0% during the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after buying an additional 1,030 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ABM Industries by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,717 shares of the business services provider’s stock valued at $1,773,000 after acquiring an additional 1,579 shares during the last quarter. Tidal Investments LLC purchased a new stake in ABM Industries during the 1st quarter worth about $220,000. Boston Partners raised its stake in ABM Industries by 152.2% in the 1st quarter. Boston Partners now owns 24,125 shares of the business services provider’s stock valued at $1,076,000 after purchasing an additional 14,560 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in ABM Industries by 37.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 273 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

ABM opened at $57.17 on Monday. ABM Industries Incorporated has a 1 year low of $39.64 and a 1 year high of $59.78. The company’s 50 day simple moving average is $54.19 and its 200 day simple moving average is $52.54. The stock has a market capitalization of $3.59 billion, a PE ratio of 23.62 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. ABM Industries’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.79 EPS. As a group, sell-side analysts expect that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were issued a $0.225 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.57%. ABM Industries’s dividend payout ratio (DPR) is 37.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ABM shares. Robert W. Baird lifted their price target on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. UBS Group lifted 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. Finally, Truist Financial increased their price target on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, September 9th.

ABM Industries 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.