Trajan Wealth LLC Sells 217 Shares of ABM Industries Incorporated (NYSE:ABM)

Trajan Wealth LLC cut its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,795 shares of the business services provider’s stock after selling 217 shares during the period. Trajan Wealth LLC’s holdings in ABM Industries were worth $242,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in ABM Industries during the 4th quarter valued at $25,000. SRS Capital Advisors Inc. boosted its holdings in ABM Industries by 323.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock worth $30,000 after purchasing an additional 511 shares during the last quarter. 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 purchasing an additional 500 shares during the last quarter. Lazard Asset Management LLC grew its position in ABM Industries by 2,102.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new stake in ABM Industries in the 4th quarter valued at about $54,000. 91.62% of the stock is owned by institutional investors.

Insider Buying and Selling at ABM Industries

In related news, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the sale, the chief executive officer now owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Scott B. Salmirs sold 25,000 shares of the business’s 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 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction that occurred 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 $20,195,357.40. The disclosure for this sale can be found here. Insiders have sold 78,778 shares of company stock valued at $4,039,248 in the last 90 days. 1.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

ABM Industries Stock Performance

ABM Industries stock traded up $0.05 during trading on Wednesday, hitting $56.00. The stock had a trading volume of 236,357 shares, compared to its average volume of 555,924. The stock’s 50 day moving average is $52.75 and its two-hundred day moving average is $47.43. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $56.55. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 14.66 and a beta of 1.16. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts predict that ABM Industries Incorporated will post 3.46 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 5th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a yield of 1.61%. ABM Industries’s payout ratio is 23.56%.

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.