Victory Capital Management Inc. Acquires 28,427 Shares of ABM Industries Incorporated (NYSE:ABM)

Victory Capital Management Inc. grew its stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 26.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 136,494 shares of the business services provider's stock after acquiring an additional 28,427 shares during the period. Victory Capital Management Inc. owned about 0.22% of ABM Industries worth $6,986,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pzena Investment Management LLC boosted its holdings in ABM Industries by 67.0% in the 3rd quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider's stock worth $36,640,000 after buying an additional 278,575 shares during the period. Barclays PLC raised its position in shares of ABM Industries by 238.7% during the 3rd quarter. Barclays PLC now owns 113,850 shares of the business services provider's stock valued at $6,004,000 after buying an additional 80,238 shares in the last quarter. Foundry Partners LLC raised its position in shares of ABM Industries by 694.2% during the 3rd quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider's stock valued at $4,583,000 after buying an additional 75,930 shares in the last quarter. Jane Street Group LLC raised its position in shares of ABM Industries by 91.8% during the 3rd quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider's stock valued at $4,331,000 after buying an additional 39,300 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of ABM Industries during the 3rd quarter valued at $1,982,000. 91.62% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

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 report on Thursday, March 13th.

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the sale, the chief operating officer now owns 87,808 shares of the company's stock, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of the firm's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction 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. This trade represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

ABM Industries Trading Down 1.5 %

NYSE:ABM traded down $0.74 during trading hours on Tuesday, reaching $46.95. The company's stock had a trading volume of 356,361 shares, compared to its average volume of 467,449. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 2.75 and a beta of 1.13. The firm has a 50-day simple moving average of $52.31 and a 200-day simple moving average of $53.24. ABM Industries Incorporated has a 1 year low of $42.28 and a 1 year high of $59.78. 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 issued its earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.08 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. Research analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Announces Dividend

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

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.