Cwm LLC Acquires 3,284 Shares of ABM Industries Incorporated (NYSE:ABM)

Cwm LLC boosted its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 108.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,301 shares of the business services provider’s stock after acquiring an additional 3,284 shares during the quarter. Cwm LLC’s holdings in ABM Industries were worth $332,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ABM. GAMMA Investing LLC increased its holdings in shares of ABM Industries by 58.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 589 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ABM Industries during the second quarter valued at about $1,467,000. Creative Planning grew its stake in ABM Industries by 35.0% in the second quarter. Creative Planning now owns 20,996 shares of the business services provider’s stock valued at $1,062,000 after purchasing an additional 5,448 shares during the last quarter. Algert Global LLC raised its holdings in 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 purchasing an additional 67,560 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of ABM Industries by 1.6% during 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 last quarter. Institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of ABM opened at $54.29 on Tuesday. The stock has a 50-day moving average of $53.11 and a two-hundred day moving average of $50.30. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $3.41 billion, a P/E ratio of 14.21 and a beta of 1.14. ABM Industries Incorporated has a one year low of $38.48 and a one year high of $59.78.

ABM Industries (NYSE:ABM) last released its 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. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be paid a $0.225 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.66%. ABM Industries’s payout ratio is currently 23.56%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the company’s 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 sale, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Scott B. Salmirs sold 11,736 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the completion of the sale, the chief executive officer now owns 366,655 shares in the company, valued at $20,195,357.40. The trade was 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 corporate insiders.

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.