Versor Investments LP Buys 10,300 Shares of ABM Industries Incorporated (NYSE:ABM)

Versor Investments LP raised its position in shares of ABM Industries Incorporated (NYSE:ABM) by 180.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,000 shares of the business services provider’s stock after acquiring an additional 10,300 shares during the period. Versor Investments LP’s holdings in ABM Industries were worth $844,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ABM. GAMMA Investing LLC boosted its stake in ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after buying an additional 273 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of ABM Industries by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock valued at $891,000 after buying an additional 324 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in ABM Industries by 2.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock worth $900,000 after acquiring an additional 378 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of ABM Industries by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock valued at $896,000 after purchasing an additional 442 shares during the period. Finally, 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 during the last quarter. Institutional investors own 91.62% of the company’s stock.

Insider Buying and Selling at ABM Industries

In other 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 completion of the sale, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.04% of the company’s stock.

ABM Industries Trading Down 2.1 %

Shares of NYSE:ABM opened at $57.39 on Wednesday. The company has a market capitalization of $3.60 billion, a P/E ratio of 23.71 and a beta of 1.14. The business’s 50 day simple moving average is $52.97 and its 200 day simple moving average is $51.51. ABM Industries Incorporated has a 1 year low of $39.43 and a 1 year high of $59.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick 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, beating 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 for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial boosted their price objective on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, September 9th. UBS Group increased their price target on shares of ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Robert W. Baird lifted their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th.

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.