Invesco Ltd. Purchases 195,978 Shares of ABM Industries Incorporated (NYSE:ABM)

Invesco Ltd. lifted its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,517,516 shares of the business services provider's stock after buying an additional 195,978 shares during the period. Invesco Ltd. owned about 2.44% of ABM Industries worth $77,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of ABM Industries during the 4th quarter worth about $33,000. Adirondack Trust Co. boosted its holdings in shares of ABM Industries by 28.6% in the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock worth $46,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after buying an additional 595 shares in the last quarter. KBC Group NV increased its holdings in shares of ABM Industries by 60.9% in the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider's stock valued at $144,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Cable Hill Partners LLC acquired a new stake in ABM Industries in the fourth quarter worth about $231,000. Institutional investors own 91.62% of the company's stock.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group cut their target price on ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th.

ABM Industries Stock Down 0.3 %

ABM traded down $0.16 during trading on Friday, hitting $45.93. The company had a trading volume of 487,236 shares, compared to its average volume of 502,548. The firm's 50-day moving average price is $49.13 and its 200 day moving average price is $52.20. The company has a market capitalization of $2.86 billion, a PE ratio of 36.16, a PEG ratio of 2.75 and a beta of 1.05. 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 one year low of $40.85 and a one year high of $59.78.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries's dividend payout ratio 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.