ABM Industries Incorporated (NYSE:ABM) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 84.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,296 shares of the business services provider's stock after selling 61,214 shares during the quarter. Verition Fund Management LLC's holdings in ABM Industries were worth $596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABM. BOKF NA acquired a new stake in ABM Industries during the 2nd quarter worth about $30,000. Capital Performance Advisors LLP acquired a new stake in ABM Industries during the third quarter worth about $30,000. Copeland Capital Management LLC purchased a new position in ABM Industries during the third quarter valued at approximately $37,000. GAMMA Investing LLC lifted its holdings in ABM Industries by 58.8% in the third 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 during the period. Finally, Innealta Capital LLC purchased a new stake in ABM Industries in the 2nd quarter worth approximately $142,000. Institutional investors and hedge funds own 91.62% of the company's stock.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were 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 of the company's stock, 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 insiders.

ABM Industries Price Performance

Shares of NYSE ABM traded down $0.14 during trading on Wednesday, hitting $56.75. The company had a trading volume of 222,770 shares, compared to its average volume of 532,442. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 23.45 and a beta of 1.14. The stock has a fifty day simple moving average of $55.08 and a two-hundred day simple moving average of $53.05. 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.

ABM Industries Increases Dividend

The company also recently disclosed 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 an increase from ABM Industries's previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries's dividend payout ratio is currently 37.19%.

Wall Street Analysts Forecast Growth

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