Xponance Inc. Raises Holdings in ABM Industries Incorporated (NYSE:ABM)

Xponance Inc. raised its holdings in ABM Industries Incorporated (NYSE:ABM) by 18.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,923 shares of the business services provider’s stock after purchasing an additional 753 shares during the period. Xponance Inc.’s holdings in ABM Industries were worth $252,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Natixis Advisors LLC purchased a new position in ABM Industries during the third quarter worth about $543,000. Charles Schwab Investment Management Inc. boosted its position in shares of ABM Industries by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,006 shares of the business services provider’s stock worth $35,930,000 after purchasing an additional 12,179 shares during the period. Citigroup Inc. increased its holdings in ABM Industries by 51.3% in the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock valued at $5,329,000 after purchasing an additional 34,254 shares during the last quarter. Cerity Partners LLC raised its position in ABM Industries by 30.1% in the third quarter. Cerity Partners LLC now owns 22,106 shares of the business services provider’s stock valued at $1,166,000 after purchasing an additional 5,114 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in ABM Industries by 18.2% during the third quarter. Daiwa Securities Group Inc. now owns 8,773 shares of the business services provider’s stock worth $463,000 after purchasing an additional 1,351 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, COO Rene Jacobsen sold 10,000 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of the business’s 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 transaction, the chief accounting officer now owns 18,681 shares of the company’s stock, valued at $978,137.16. This trade represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

ABM Industries Price Performance

Shares of ABM opened at $47.28 on Friday. 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 fifty-two week low of $42.63 and a fifty-two week high of $59.78. The company has a market cap of $2.94 billion, a P/E ratio of 37.23, a PEG ratio of 2.75 and a beta of 1.13. The firm’s 50 day moving average price is $51.51 and its 200 day moving average price is $52.80.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be issued a $0.265 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.24%. ABM Industries’s dividend payout ratio (DPR) is presently 84.13%.

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.