Pathstone Holdings LLC Purchases 2,448 Shares of ABM Industries Incorporated (NYSE:ABM)

Pathstone Holdings LLC increased its position in shares of ABM Industries Incorporated (NYSE:ABM) by 3.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 84,591 shares of the business services provider’s stock after buying an additional 2,448 shares during the quarter. Pathstone Holdings LLC’s holdings in ABM Industries were worth $4,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABM. Mitsubishi UFJ Trust & Banking Corp bought a new stake in ABM Industries during the first quarter valued at about $225,000. CANADA LIFE ASSURANCE Co boosted its stake in ABM Industries by 5.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 74,268 shares of the business services provider’s stock valued at $3,314,000 after purchasing an additional 3,841 shares during the period. Shell Asset Management Co. acquired a new stake in ABM Industries in the 1st quarter valued at approximately $241,000. Lazard Asset Management LLC increased its position in ABM Industries by 2,102.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after buying an additional 1,030 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of ABM Industries by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,717 shares of the business services provider’s stock worth $1,773,000 after buying an additional 1,579 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Trading Up 0.7 %

Shares of ABM stock opened at $56.79 on Friday. The firm has a fifty day moving average of $53.64 and a 200-day moving average of $52.04. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 23.47 and a beta of 1.14. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78. 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 (NYSE:ABM) last announced 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 firm 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 company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is 37.19%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABM. Truist Financial raised their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, September 9th. UBS Group boosted their price objective 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. Robert W. Baird increased their target price on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

Insiders Place Their Bets

In related news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This trade represents a 46.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.04% of the company’s stock.

About ABM Industries

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.