ABM Industries Incorporated (NYSE:ABM) Stake Lessened by Verition Fund Management LLC

Verition Fund Management LLC cut its stake in ABM Industries Incorporated (NYSE:ABM) by 84.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,296 shares of the business services provider’s stock after selling 61,214 shares during the period. Verition Fund Management LLC’s holdings in ABM Industries were worth $596,000 as of its most recent SEC filing.

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

ABM Industries Stock Performance

Shares of ABM stock opened at $56.88 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average of $54.98 and a two-hundred day moving average of $53.02. The company has a market cap of $3.57 billion, a P/E ratio of 23.50 and a beta of 1.14. ABM Industries Incorporated has a 52 week low of $39.64 and a 52 week high of $59.78.

ABM Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a dividend of $0.265 per share. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Thursday, January 2nd. ABM Industries’s dividend payout ratio is presently 37.19%.

Analyst Upgrades and Downgrades

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 report on Monday, September 9th. Robert W. Baird lifted their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Truist Financial boosted their target price on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, September 9th.

Insiders Place Their Bets

In other news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.04% of the stock is owned by corporate insiders.

ABM Industries 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.