ABM Industries Incorporated (NYSE:ABM) Stock Holdings Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in ABM Industries Incorporated (NYSE:ABM) by 39.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 61,386 shares of the business services provider’s stock after selling 40,407 shares during the period. Thrivent Financial for Lutherans owned approximately 0.10% of ABM Industries worth $3,239,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BOKF NA acquired a new stake in ABM Industries in the 2nd quarter valued at about $30,000. Capital Performance Advisors LLP acquired a new stake in ABM Industries during the third quarter valued at approximately $30,000. Adirondack Trust Co. boosted its holdings in ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after buying an additional 500 shares in the last quarter. Copeland Capital Management LLC acquired a new position in ABM Industries in the third quarter worth approximately $37,000. Finally, Lazard Asset Management LLC increased its holdings in shares of ABM Industries by 2,102.0% in the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after buying an additional 1,030 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Stock Up 1.0 %

Shares of ABM Industries stock opened at $57.36 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 1 year low of $39.64 and a 1 year high of $59.78. The stock has a 50-day moving average price of $53.64 and a 200 day moving average price of $52.15. The company has a market cap of $3.60 billion, a P/E ratio of 23.70 and a beta of 1.14.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results 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 business 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 firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. As a group, analysts expect that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 annualized dividend and a dividend yield of 1.57%. ABM Industries’s dividend payout ratio is 37.19%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated 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 in the company, valued at $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.04% of the company’s stock.

ABM Industries 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.