Fmr LLC Has $4.71 Million Position in ABM Industries Incorporated (NYSE:ABM)

Fmr LLC grew its holdings in ABM Industries Incorporated (NYSE:ABM) by 25.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 89,209 shares of the business services provider’s stock after acquiring an additional 18,339 shares during the period. Fmr LLC’s holdings in ABM Industries were worth $4,707,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in ABM Industries in the second quarter valued at about $125,118,000. Pzena Investment Management LLC acquired a new position in shares of ABM Industries in the 2nd quarter worth approximately $21,032,000. LSV Asset Management lifted its position in shares of ABM Industries by 92.3% during the 2nd quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock worth $38,449,000 after buying an additional 364,879 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in ABM Industries by 652,535.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 110,948 shares of the business services provider’s stock valued at $5,611,000 after buying an additional 110,931 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in ABM Industries by 279.4% in the third quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock valued at $5,702,000 after acquiring an additional 79,587 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Trading Down 0.5 %

Shares of ABM opened at $56.46 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 23.33 and a beta of 1.14. The stock has a fifty day moving average price of $55.18 and a two-hundred day moving average price of $53.07. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78.

ABM Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 dividend yield of 1.88%. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries’s payout ratio is currently 43.80%.

Insider Buying and Selling

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. This trade represents a 46.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Robert W. Baird lifted their price objective on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Truist Financial lifted their price target on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th. Finally, UBS Group boosted their price target on shares of ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, September 9th.

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.