Thrivent Financial for Lutherans Trims Position in ABM Industries Incorporated (NYSE:ABM)

Thrivent Financial for Lutherans lowered its position in ABM Industries Incorporated (NYSE:ABM) by 12.4% in the fourth quarter, HoldingsChannel reports. The firm owned 53,769 shares of the business services provider’s stock after selling 7,617 shares during the period. Thrivent Financial for Lutherans’ holdings in ABM Industries were worth $2,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABM. Savant Capital LLC grew its stake in shares of ABM Industries by 1.7% in the 4th quarter. Savant Capital LLC now owns 11,707 shares of the business services provider’s stock valued at $599,000 after buying an additional 191 shares during the period. Adirondack Trust Co. increased its stake in ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after acquiring an additional 200 shares during the last quarter. Naples Global Advisors LLC increased its stake in ABM Industries by 2.3% during the fourth quarter. Naples Global Advisors LLC now owns 11,038 shares of the business services provider’s stock worth $565,000 after acquiring an additional 253 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of ABM Industries by 4.8% in the 4th quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 289 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of ABM Industries by 3.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,804 shares of the business services provider’s stock worth $791,000 after purchasing an additional 588 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their target price on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th.

ABM Industries Price Performance

ABM Industries stock opened at $48.26 on Friday. The company’s 50 day moving average is $51.62 and its two-hundred day moving average is $52.82. The firm has a market cap of $3.00 billion, a PE ratio of 38.00, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a 52-week low of $42.63 and a 52-week high of $59.78.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be paid a $0.265 dividend. 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 payout ratio is presently 84.13%.

Insider Transactions at ABM Industries

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

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.