HighTower Advisors LLC Sells 1,886 Shares of ABM Industries Incorporated (NYSE:ABM)

HighTower Advisors LLC trimmed its position in shares of ABM Industries Incorporated (NYSE:ABM) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,448 shares of the business services provider’s stock after selling 1,886 shares during the period. HighTower Advisors LLC’s holdings in ABM Industries were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOKF NA acquired a new position in shares of ABM Industries during the 2nd quarter worth about $30,000. Capital Performance Advisors LLP acquired a new stake in ABM Industries in the 3rd quarter valued at about $30,000. Copeland Capital Management LLC bought a new position in ABM Industries during the third quarter worth about $37,000. GAMMA Investing LLC increased its position in ABM Industries by 58.8% during the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock worth $84,000 after buying an additional 589 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in ABM Industries in the second quarter valued at approximately $142,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Trading Down 3.3 %

Shares of NYSE:ABM opened at $54.91 on Wednesday. The stock has a market cap of $3.45 billion, a PE ratio of 22.69 and a beta of 1.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78. The business has a 50 day moving average of $55.37 and a 200-day moving average of $53.30.

ABM Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.93%. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, January 2nd. ABM Industries’s dividend payout ratio is currently 43.80%.

Insiders Place Their Bets

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the business’s 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 completion of the sale, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group lifted their target price on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Truist Financial lifted their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Finally, 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 research report on Monday, September 9th.

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.