Tocqueville Asset Management L.P. Has $6.51 Million Holdings in ABM Industries Incorporated (NYSE:ABM)

Tocqueville Asset Management L.P. trimmed its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,150 shares of the business services provider's stock after selling 25,000 shares during the quarter. Tocqueville Asset Management L.P. owned 0.20% of ABM Industries worth $6,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in ABM Industries by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider's stock valued at $76,582,000 after acquiring an additional 7,050 shares in the last quarter. Pzena Investment Management LLC lifted its position in 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 worth $43,550,000 after buying an additional 156,450 shares in the last quarter. William Blair Investment Management LLC lifted its position in ABM Industries by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 818,810 shares of the business services provider's stock worth $41,907,000 after buying an additional 19,783 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of ABM Industries by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 693,325 shares of the business services provider's stock worth $35,484,000 after purchasing an additional 12,319 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of ABM Industries by 4.3% during the 4th quarter. Principal Financial Group Inc. now owns 341,616 shares of the business services provider's stock worth $17,484,000 after purchasing an additional 13,985 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The shares were 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 trade represents a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Rene Jacobsen sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction 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 represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

ABM Industries Stock Performance

ABM traded down $0.56 on Friday, reaching $46.88. The company had a trading volume of 1,280,356 shares, compared to its average volume of 465,736. ABM Industries Incorporated has a fifty-two week low of $42.63 and a fifty-two week high of $59.78. The stock has a market cap of $2.92 billion, a P/E ratio of 36.91, a P/E/G ratio of 2.75 and a beta of 1.13. The company's fifty day moving average is $52.02 and its 200 day moving average is $53.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33.

ABM Industries (NYSE:ABM - Get Free Report) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The business's revenue was up 4.0% compared to the same quarter last year. As a group, analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.26%. ABM Industries's dividend payout ratio is 84.13%.

Analyst Upgrades and Downgrades

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

About ABM Industries

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.