American Century Companies Inc. increased its stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 2,322.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,183,695 shares of the business services provider's stock after purchasing an additional 1,134,825 shares during the quarter. American Century Companies Inc. owned about 1.90% of ABM Industries worth $60,582,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of ABM. Pzena Investment Management LLC lifted its holdings in ABM Industries by 22.5% in the fourth quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider's stock valued at $43,550,000 after buying an additional 156,450 shares during the period. Barclays PLC raised its position in shares of ABM Industries by 238.7% during the third quarter. Barclays PLC now owns 113,850 shares of the business services provider's stock worth $6,004,000 after purchasing an additional 80,238 shares during the period. Raymond James Financial Inc. bought a new position in ABM Industries in the fourth quarter valued at approximately $3,502,000. Wealthfront Advisers LLC bought a new stake in ABM Industries in the 4th quarter valued at $3,084,000. Finally, Jane Street Group LLC boosted its position in shares of ABM Industries by 91.8% during the third quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider's stock worth $4,331,000 after buying an additional 39,300 shares during the period. Institutional investors and hedge funds own 91.62% of the company's stock.
Insider Buying and Selling
In other news, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of the transaction, the chief operating officer now directly owns 87,808 shares in the company, valued at approximately $4,639,774.72. This 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 this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the sale, the chief accounting officer now owns 18,681 shares in the company, valued at $978,137.16. This 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.
Analysts Set New Price Targets
Separately, UBS Group cut their price target on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th.
View Our Latest Report on ABM
ABM Industries Stock Down 1.9 %
Shares of ABM Industries stock traded down $0.90 on Friday, reaching $47.28. 377,248 shares of the company were exchanged, compared to its average volume of 486,939. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 2.75 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a one year low of $42.63 and a one year high of $59.78. The company has a 50-day moving average of $51.51 and a 200 day moving average of $52.82.
ABM Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be paid a $0.265 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.24%. ABM Industries's dividend payout ratio is 84.13%.
About ABM Industries
(
Free Report)
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.
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