ABM Industries Incorporated (NYSE:ABM) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in ABM Industries Incorporated (NYSE:ABMGet Rating) by 12.7% in the 3rd quarter, Holdings Channel reports. The firm owned 69,535 shares of the business services provider’s stock after selling 10,154 shares during the quarter. Raymond James & Associates’ holdings in ABM Industries were worth $2,658,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinebridge Investments L.P. increased its stake in shares of ABM Industries by 487.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 587 shares of the business services provider’s stock worth $25,000 after acquiring an additional 487 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of ABM Industries in the 2nd quarter valued at about $38,000. Assetmark Inc. boosted its stake in shares of ABM Industries by 104.1% in the 2nd quarter. Assetmark Inc. now owns 951 shares of the business services provider’s stock valued at $41,000 after buying an additional 485 shares during the period. Private Trust Co. NA purchased a new position in shares of ABM Industries in the 3rd quarter valued at about $43,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of ABM Industries by 1,691.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,150 shares of the business services provider’s stock valued at $92,000 after buying an additional 2,030 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on ABM Industries in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

ABM Industries Price Performance

Shares of NYSE ABM opened at $44.93 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.15. ABM Industries Incorporated has a fifty-two week low of $37.68 and a fifty-two week high of $54.00. The firm has a market capitalization of $2.95 billion, a PE ratio of 13.18 and a beta of 1.13. The stock’s 50-day simple moving average is $45.28 and its 200-day simple moving average is $44.06.

ABM Industries (NYSE:ABMGet Rating) last issued its earnings results on Tuesday, December 13th. The business services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. ABM Industries had a return on equity of 14.72% and a net margin of 2.95%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. As a group, equities research analysts forecast that ABM Industries Incorporated will post 3.51 EPS for the current fiscal year.

ABM Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 6th. Stockholders of record on Thursday, January 5th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, January 4th. This is a positive change from ABM Industries’s previous quarterly dividend of $0.20. ABM Industries’s dividend payout ratio (DPR) is 25.81%.

Insiders Place Their Bets

In other ABM Industries news, CAO Dean A. Chin sold 2,520 shares of ABM Industries stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $45.92, for a total transaction of $115,718.40. Following the transaction, the chief accounting officer now owns 22,533 shares of the company’s stock, valued at $1,034,715.36. The transaction was disclosed in a filing with the SEC, which is available at this link. In other ABM Industries news, CAO Dean A. Chin sold 2,521 shares of ABM Industries stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $43.00, for a total transaction of $108,403.00. Following the transaction, the chief accounting officer now owns 20,994 shares of the company’s stock, valued at $902,742. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Dean A. Chin sold 2,520 shares of ABM Industries stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $45.92, for a total value of $115,718.40. Following the transaction, the chief accounting officer now directly owns 22,533 shares in the company, valued at approximately $1,034,715.36. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

ABM Industries Profile

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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.

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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