Quest Partners LLC Has $802,000 Position in ABM Industries Incorporated (NYSE:ABM)

Quest Partners LLC grew its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 54.7% in the third quarter, HoldingsChannel.com reports. The fund owned 15,204 shares of the business services provider’s stock after acquiring an additional 5,379 shares during the quarter. Quest Partners LLC’s holdings in ABM Industries were worth $802,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after buying an additional 273 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in ABM Industries by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock valued at $891,000 after acquiring an additional 324 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in ABM Industries by 2.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock valued at $900,000 after purchasing an additional 378 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of ABM Industries by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock valued at $896,000 after purchasing an additional 442 shares in the last quarter. Finally, Adirondack Trust Co. increased its stake in shares of ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 500 shares during the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction 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 completion of the transaction, the chief financial officer now owns 45,260 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is owned by insiders.

ABM Industries Stock Up 1.5 %

Shares of NYSE ABM opened at $56.43 on Friday. The company has a 50 day simple moving average of $53.39 and a 200 day simple moving average of $51.93. 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 firm has a market cap of $3.54 billion, a PE ratio of 23.32 and a beta of 1.14.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping 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 was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 earnings per share. On average, research analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.59%. ABM Industries’s dividend payout ratio (DPR) is 37.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial lifted their target price on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, September 9th. Robert W. Baird upped their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, UBS Group upped their price target on shares of ABM Industries from $51.00 to $55.00 and gave the stock 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.