Raymond James Financial Inc. Purchases New Position in ABM Industries Incorporated (NYSE:ABM)

Raymond James Financial Inc. acquired a new position in shares of ABM Industries Incorporated (NYSE:ABM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 68,427 shares of the business services provider’s stock, valued at approximately $3,502,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABM. Barclays PLC boosted its position in shares of ABM Industries by 238.7% during the third quarter. Barclays PLC now owns 113,850 shares of the business services provider’s stock valued at $6,004,000 after buying an additional 80,238 shares during the last quarter. Jane Street Group LLC lifted its stake in ABM Industries by 91.8% during the 3rd quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after acquiring an additional 39,300 shares in the last quarter. Edgestream Partners L.P. purchased a new position in ABM Industries during the 3rd quarter worth $1,931,000. Citigroup Inc. grew its stake in shares of ABM Industries by 51.3% in the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock worth $5,329,000 after acquiring an additional 34,254 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of ABM Industries by 26.3% in the fourth quarter. Victory Capital Management Inc. now owns 136,494 shares of the business services provider’s stock valued at $6,986,000 after purchasing an additional 28,427 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

ABM Industries Stock Performance

Shares of ABM opened at $48.26 on Friday. The stock has a 50 day moving average of $51.62 and a 200 day moving average of $52.82. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a 12 month low of $42.63 and a 12 month high of $59.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s dividend payout ratio is presently 84.13%.

Wall Street Analyst Weigh In

Separately, UBS Group cut their price target on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th.

Insider Transactions at ABM Industries

In other news, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the sale, the chief operating officer now owns 87,808 shares in the company, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the completion of the sale, the chief accounting officer now directly owns 18,681 shares in the company, valued at $978,137.16. This trade represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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.