Creative Planning Has $1.06 Million Stake in ABM Industries Incorporated (NYSE:ABM)

Creative Planning boosted its position in shares of ABM Industries Incorporated (NYSE:ABM) by 35.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,996 shares of the business services provider’s stock after buying an additional 5,448 shares during the quarter. Creative Planning’s holdings in ABM Industries were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Algert Global LLC lifted its stake in ABM Industries by 50.8% in the 2nd quarter. Algert Global LLC now owns 200,497 shares of the business services provider’s stock valued at $10,139,000 after purchasing an additional 67,560 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in ABM Industries by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 35,036 shares of the business services provider’s stock valued at $1,772,000 after buying an additional 539 shares during the period. AQR Capital Management LLC lifted its position in shares of ABM Industries by 21.2% in the second quarter. AQR Capital Management LLC now owns 219,831 shares of the business services provider’s stock valued at $11,117,000 after buying an additional 38,429 shares during the last quarter. AXA S.A. boosted its stake in shares of ABM Industries by 21.7% during the 2nd quarter. AXA S.A. now owns 51,062 shares of the business services provider’s stock worth $2,582,000 after acquiring an additional 9,095 shares during the period. Finally, Xponance Inc. acquired a new position in shares of ABM Industries during the 2nd quarter worth approximately $204,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Stock Down 1.0 %

ABM stock opened at $52.00 on Friday. The business’s fifty day moving average price is $52.93 and its two-hundred day moving average price is $49.75. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 13.61 and a beta of 1.14. ABM Industries Incorporated has a fifty-two week low of $38.48 and a fifty-two week high of $59.78. 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 (NYSE:ABM) last issued its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 EPS. On average, equities analysts anticipate that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of ABM Industries stock in a transaction on Monday, July 15th. The stock was sold at an average price of $51.67, for a total value of $2,066,800.00. Following the completion of the transaction, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at $3,723,443.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Rene Jacobsen sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $51.67, for a total value of $2,066,800.00. Following the completion of the transaction, the chief operating officer now directly owns 72,062 shares in the company, valued at approximately $3,723,443.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott B. Salmirs sold 11,736 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total transaction of $646,418.88. Following the sale, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ABM has been the subject of several research reports. Truist Financial raised their price target on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th. Robert W. Baird raised their target price on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, UBS Group increased their price target on shares of ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, September 9th.

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.