Exchange Traded Concepts LLC Reduces Stock Position in ABM Industries Incorporated (NYSE:ABM)

Exchange Traded Concepts LLC cut its holdings in ABM Industries Incorporated (NYSE:ABM) by 30.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,036 shares of the business services provider’s stock after selling 451 shares during the period. Exchange Traded Concepts LLC’s holdings in ABM Industries were worth $55,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ABM. Inspire Investing LLC lifted its holdings in shares of ABM Industries by 12.4% in the 3rd quarter. Inspire Investing LLC now owns 7,797 shares of the business services provider’s stock worth $411,000 after acquiring an additional 862 shares during the last quarter. CWM LLC grew its position in shares of ABM Industries by 108.8% during the 3rd quarter. CWM LLC now owns 6,301 shares of the business services provider’s stock worth $332,000 after buying an additional 3,284 shares in the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 589 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ABM Industries during the second quarter worth $1,467,000. Finally, Creative Planning boosted its position in ABM Industries by 35.0% during 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 in the last quarter. Institutional investors own 91.62% of the company’s stock.

Insider Activity

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 sale, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABM shares. StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective 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. UBS Group upped their target price on 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 raised 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.

ABM Industries Trading Down 0.1 %

Shares of ABM opened at $53.36 on Thursday. The firm has a market capitalization of $3.35 billion, a P/E ratio of 13.97 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $53.12 and a 200 day moving average price of $50.39. ABM Industries Incorporated has a 12-month low of $38.48 and a 12-month high of $59.78.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the business earned $0.79 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts forecast 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 will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be issued a $0.225 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.69%. ABM Industries’s payout ratio is 23.56%.

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.