Sei Investments Co. Boosts Stock Position in ABM Industries Incorporated (NYSE:ABM)

Sei Investments Co. boosted its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 321.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,193 shares of the business services provider's stock after purchasing an additional 116,827 shares during the quarter. Sei Investments Co. owned about 0.25% of ABM Industries worth $7,840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in ABM Industries by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider's stock worth $76,582,000 after purchasing an additional 7,050 shares in the last quarter. American Century Companies Inc. lifted its stake in ABM Industries by 2,322.1% in the fourth quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider's stock valued at $60,582,000 after purchasing an additional 1,134,825 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of ABM Industries by 22.5% during the 4th 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 last quarter. William Blair Investment Management LLC boosted its position in ABM Industries by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 818,810 shares of the business services provider's stock worth $41,907,000 after purchasing an additional 19,783 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in ABM Industries by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 693,325 shares of the business services provider's stock valued at $35,484,000 after buying an additional 12,319 shares in the last quarter. 91.62% of the stock is owned by institutional investors.

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ABM Industries Price Performance

NYSE:ABM traded down $1.44 during trading hours on Thursday, hitting $47.50. 35,017 shares of the company's stock traded hands, compared to its average volume of 483,916. ABM Industries Incorporated has a 52 week low of $42.63 and a 52 week high of $59.78. The business's fifty day simple moving average is $51.20 and its two-hundred day simple moving average is $52.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a market cap of $2.96 billion, a P/E ratio of 37.35, a P/E/G ratio of 2.75 and a beta of 1.05.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.23%. ABM Industries's payout ratio is currently 84.13%.

Analyst Upgrades and Downgrades

Separately, UBS Group reduced their target price on ABM Industries from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, March 13th.

Insider Transactions at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the firm's stock in a transaction dated 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 directly 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 filing with the SEC, which is available at this link. Also, CAO Dean A. Chin sold 4,281 shares of the company'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 completion of the sale, the chief accounting officer now directly owns 18,681 shares in the company, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

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.