Pzena Investment Management LLC Has $36.64 Million Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Pzena Investment Management LLC increased its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 67.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 694,464 shares of the business services provider’s stock after buying an additional 278,575 shares during the period. Pzena Investment Management LLC owned 1.11% of ABM Industries worth $36,640,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABM. Pacer Advisors Inc. acquired a new position in shares of ABM Industries during the second quarter worth approximately $125,118,000. LSV Asset Management boosted its position in ABM Industries by 92.3% in the 2nd quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock valued at $38,449,000 after buying an additional 364,879 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ABM Industries by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 656,652 shares of the business services provider’s stock valued at $33,207,000 after buying an additional 13,126 shares during the period. Principal Financial Group Inc. increased its stake in shares of ABM Industries by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock valued at $17,286,000 after buying an additional 15,438 shares during the period. Finally, SG Capital Management LLC bought a new stake in shares of ABM Industries during the first quarter worth $13,730,000. Institutional investors own 91.62% of the company’s stock.

Insider Activity at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries 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 transaction, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.04% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

ABM Industries Trading Down 0.4 %

Shares of ABM stock traded down $0.20 on Wednesday, hitting $55.16. The stock had a trading volume of 14,017 shares, compared to its average volume of 548,152. The firm has a market cap of $3.46 billion, a P/E ratio of 22.88 and a beta of 1.14. ABM Industries Incorporated has a twelve month low of $39.64 and a twelve month high of $59.78. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average price of $53.26 and a two-hundred day moving average price of $51.90.

ABM Industries (NYSE:ABM) last released its earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.86 by $0.08. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Thursday, October 3rd. ABM Industries’s payout ratio is presently 37.19%.

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.