Louisiana State Employees Retirement System Sells 1,500 Shares of ABM Industries Incorporated (NYSE:ABM)

Louisiana State Employees Retirement System lessened its stake in ABM Industries Incorporated (NYSE:ABM) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,300 shares of the business services provider’s stock after selling 1,500 shares during the period. Louisiana State Employees Retirement System’s holdings in ABM Industries were worth $1,599,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Algert Global LLC grew its position in shares of 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 buying an additional 67,560 shares during the last quarter. Boston Partners grew its position in shares of 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 buying an additional 14,560 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of ABM Industries during the 1st quarter valued at about $13,730,000. Janney Montgomery Scott LLC bought a new stake in shares of ABM Industries during the 1st quarter valued at about $481,000. Finally, Seven Eight Capital LP bought a new stake in shares of ABM Industries during the 2nd quarter valued at about $614,000. Institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Down 1.2 %

Shares of NYSE:ABM opened at $53.06 on Friday. The business’s 50 day simple moving average is $53.02 and its two-hundred day simple moving average is $50.73. The firm has a market cap of $3.33 billion, a P/E ratio of 14.03 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 Incorporated has a 52-week low of $38.48 and a 52-week high of $59.78.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.86 by $0.08. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, research analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business 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. This represents a $0.90 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Analyst Ratings Changes

Several equities research analysts recently commented on ABM shares. 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. StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Truist Financial upped 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. Finally, UBS Group increased their price target on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th.

Insider Transactions at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.04% of the company’s stock.

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.