Boston Partners Sells 793,526 Shares of ABM Industries Incorporated (NYSE:ABM)

Boston Partners reduced its position in ABM Industries Incorporated (NYSE:ABM) by 43.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,048,628 shares of the business services provider’s stock after selling 793,526 shares during the quarter. Boston Partners’ holdings in ABM Industries were worth $45,226,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. BOKF NA bought a new stake in shares of ABM Industries during the 1st quarter valued at approximately $27,000. Amundi bought a new stake in shares of ABM Industries during the 4th quarter valued at approximately $36,000. Exchange Traded Concepts LLC grew its holdings in shares of ABM Industries by 140.9% during the 2nd quarter. Exchange Traded Concepts LLC now owns 937 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 548 shares during the last quarter. Assetmark Inc. grew its holdings in shares of ABM Industries by 38.4% during the 1st quarter. Assetmark Inc. now owns 1,665 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 462 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of ABM Industries during the 1st quarter valued at approximately $932,000. 86.42% of the stock is owned by institutional investors.

ABM Industries Stock Up 0.1 %

NYSE:ABM opened at $41.07 on Friday. The company has a market cap of $2.69 billion, a PE ratio of 11.54 and a beta of 1.11. ABM Industries Incorporated has a one year low of $37.61 and a one year high of $49.58. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.47 and a quick ratio of 1.47. The firm’s 50 day simple moving average is $40.63 and its 200 day simple moving average is $42.79.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.09). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.01 billion. ABM Industries had a return on equity of 12.69% and a net margin of 2.96%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. On average, research analysts anticipate that ABM Industries Incorporated will post 3.42 earnings per share for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Thursday, October 5th were given a $0.22 dividend. The ex-dividend date was Wednesday, October 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.14%. ABM Industries’s dividend payout ratio (DPR) is currently 24.72%.

Insider Transactions at ABM Industries

In other news, COO Rene Jacobsen sold 6,341 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $44.00, for a total value of $279,004.00. Following the transaction, the chief operating officer now owns 59,059 shares in the company, valued at approximately $2,598,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

ABM has been the topic of several research reports. William Blair lowered shares of ABM Industries from an “outperform” rating to a “market perform” rating in a report on Thursday, September 7th. UBS Group decreased their price target on shares of ABM Industries from $50.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, September 8th. Robert W. Baird cut their target price on shares of ABM Industries from $52.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, September 8th. Deutsche Bank Aktiengesellschaft downgraded shares of ABM Industries from a “buy” rating to a “hold” rating and cut their target price for the stock from $65.00 to $43.00 in a research report on Friday, September 8th. Finally, Truist Financial initiated coverage on shares of ABM Industries in a research report on Monday, November 13th. They set a “hold” rating and a $43.00 target price on the stock. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.20.

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. The company operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.