State Street Corp Has $176.23 Million Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

State Street Corp decreased its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,340,279 shares of the business services provider's stock after selling 114,485 shares during the period. State Street Corp owned approximately 5.32% of ABM Industries worth $176,233,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ABM. Quarry LP lifted its position in shares of ABM Industries by 49.7% during the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider's stock valued at $115,000 after acquiring an additional 721 shares during the period. Edgestream Partners L.P. acquired a new position in ABM Industries during the third quarter worth $1,931,000. Captrust Financial Advisors purchased a new stake in ABM Industries during the third quarter worth $412,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ABM Industries by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,535 shares of the business services provider's stock valued at $7,837,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Freedom Investment Management Inc. purchased a new position in shares of ABM Industries in the third quarter valued at $246,000. Hedge funds and other institutional investors own 91.62% of the company's stock.

Insider Buying and Selling

In other news, CFO Earl Ray Ellis sold 40,000 shares of the firm's stock in a transaction dated 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 $2,442,229.60. This trade represents a 46.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.04% of the stock is currently owned by company insiders.

ABM Industries Trading Down 0.5 %

ABM stock traded down $0.26 during midday trading on Friday, hitting $56.18. The stock had a trading volume of 66,143 shares, compared to its average volume of 529,658. The company's 50-day moving average price is $55.18 and its 200 day moving average price is $53.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $3.53 billion, a PE ratio of 23.33 and a beta of 1.14. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78.

ABM Industries Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group raised their target price on shares of ABM Industries from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, September 9th. Robert W. Baird increased their target price on ABM Industries from $49.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, September 9th. Finally, Truist Financial upped their price objective on ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, September 9th.

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.