Fmr LLC Raises Stake in ABM Industries Incorporated (NYSE:ABM)

FMR LLC grew its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 25.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,209 shares of the business services provider's stock after purchasing an additional 18,339 shares during the period. FMR LLC owned approximately 0.14% of ABM Industries worth $4,707,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ABM. BOKF NA purchased a new position in ABM Industries in the 2nd quarter valued at approximately $30,000. Capital Performance Advisors LLP purchased a new stake in shares of ABM Industries in the 3rd quarter worth about $30,000. Copeland Capital Management LLC acquired a new stake in ABM Industries in the 3rd quarter valued at about $37,000. GAMMA Investing LLC increased its holdings in ABM Industries by 58.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider's stock valued at $84,000 after acquiring an additional 589 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in ABM Industries during the second quarter worth about $142,000. 91.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 sale, the chief financial officer now directly owns 45,260 shares of the company's stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.04% of the company's stock.

Analyst Ratings Changes

ABM has been the subject of a number of recent research reports. Robert W. Baird raised their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, September 9th. Truist Financial raised their price target on ABM Industries from $49.00 to $55.00 and gave the stock a "hold" rating in a research report on Monday, September 9th. Finally, UBS Group boosted their price target on ABM Industries from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, September 9th.

ABM Industries Trading Down 0.6 %

Shares of ABM stock traded down $0.34 during mid-day trading on Friday, hitting $56.10. 355,981 shares of the company's stock were exchanged, compared to its average volume of 530,853. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 23.33 and a beta of 1.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a fifty-two week low of $39.64 and a fifty-two week high of $59.78. The stock has a 50-day simple moving average of $55.18 and a two-hundred day simple moving average of $53.07.

ABM Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.265 dividend. This is a boost from ABM Industries's previous quarterly dividend of $0.23. The ex-dividend date is Thursday, January 2nd. This represents a $1.06 annualized dividend and a yield of 1.89%. ABM Industries's payout ratio is 37.19%.

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.