Creative Financial Designs Inc. ADV Increases Stock Position in ABM Industries Incorporated (NYSE:ABM)

Creative Financial Designs Inc. ADV lifted its position in shares of ABM Industries Incorporated (NYSE:ABM) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,066 shares of the business services provider’s stock after buying an additional 378 shares during the period. Creative Financial Designs Inc. ADV’s holdings in ABM Industries were worth $900,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ABM. Pacer Advisors Inc. acquired a new stake in ABM Industries during the second quarter worth about $125,118,000. LSV Asset Management raised its holdings in ABM Industries by 92.3% in the second 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 period. Bank of New York Mellon Corp lifted its position in ABM Industries by 2.0% during the second 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 in the last quarter. Pzena Investment Management LLC purchased a new stake in ABM Industries during the second quarter worth approximately $21,032,000. Finally, SG Capital Management LLC purchased a new stake in ABM Industries during the 1st quarter worth $13,730,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Stock Performance

ABM Industries stock opened at $53.13 on Friday. 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 stock has a 50 day moving average of $52.99 and a 200-day moving average of $50.75. The stock has a market cap of $3.34 billion, a P/E ratio of 21.95 and a beta of 1.14. ABM Industries Incorporated has a 52 week low of $39.27 and a 52 week high of $59.78.

ABM Industries (NYSE:ABM) last issued 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 for 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 earnings per share. On average, analysts expect that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s dividend payout ratio is presently 37.19%.

Analyst Upgrades and Downgrades

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

Insider Activity at ABM Industries

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 value of $2,158,400.00. Following the sale, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.