Simplicity Wealth LLC Has $4 Million Stake in ABM Industries Incorporated (NYSE:ABM)

Simplicity Wealth LLC raised its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,164 shares of the business services provider’s stock after purchasing an additional 1,167 shares during the period. Simplicity Wealth LLC owned 0.13% of ABM Industries worth $4,003,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank acquired a new position in ABM Industries during the 4th quarter valued at about $31,310,000. LSV Asset Management acquired a new position in ABM Industries during the 1st quarter valued at about $17,645,000. SG Capital Management LLC acquired a new position in ABM Industries during the 1st quarter valued at about $13,730,000. Invenomic Capital Management LP purchased a new position in shares of ABM Industries in the 1st quarter worth approximately $10,071,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of ABM Industries in the 1st quarter worth approximately $4,038,000. 91.62% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the transaction, the chief executive officer now directly owns 378,391 shares in the company, valued at $18,503,319.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ABM Industries news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the completion of the transaction, the chief executive officer now owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total transaction of $646,418.88. Following the completion of the sale, the chief executive officer now owns 366,655 shares in the company, valued at approximately $20,195,357.40. The disclosure for this sale can be found here. Insiders have sold 78,778 shares of company stock worth $4,039,248 in the last three months. Corporate insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. UBS Group lifted their price target on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Finally, Robert W. Baird lifted their price target on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.80.

ABM Industries Stock Up 0.8 %

NYSE ABM traded up $0.43 during mid-day trading on Thursday, reaching $52.41. The stock had a trading volume of 218,048 shares, compared to its average volume of 583,164. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.44. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $56.30. The stock has a market cap of $3.29 billion, a PE ratio of 13.72 and a beta of 1.16. The company has a fifty day moving average price of $51.49 and a 200 day moving average price of $46.18.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts expect that ABM Industries Incorporated will post 3.46 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 5th were paid a $0.225 dividend. The ex-dividend date was Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a yield of 1.72%. ABM Industries’s dividend payout ratio is currently 23.56%.

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.