Raymond James Financial Inc. Invests $3.50 Million in ABM Industries Incorporated (NYSE:ABM)

Raymond James Financial Inc. purchased a new stake in ABM Industries Incorporated (NYSE:ABM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 68,427 shares of the business services provider’s stock, valued at approximately $3,502,000. Raymond James Financial Inc. owned approximately 0.11% of ABM Industries at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of ABM Industries by 26.3% in the 4th quarter. Victory Capital Management Inc. now owns 136,494 shares of the business services provider’s stock valued at $6,986,000 after purchasing an additional 28,427 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 valued at $35,484,000 after purchasing an additional 12,319 shares during the period. SBI Securities Co. Ltd. bought a new position in ABM Industries during the fourth quarter worth $33,000. Smartleaf Asset Management LLC lifted its holdings in ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after buying an additional 595 shares during the period. Finally, Versor Investments LP lifted its holdings in ABM Industries by 6.3% in the fourth quarter. Versor Investments LP now owns 17,000 shares of the business services provider’s stock valued at $870,000 after buying an additional 1,000 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Price Performance

ABM Industries stock opened at $48.26 on Friday. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a 52-week low of $42.63 and a 52-week 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. The stock’s 50 day moving average price is $51.62 and its two-hundred day moving average price is $52.82.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries’s dividend payout ratio is presently 84.13%.

Insiders Place Their Bets

In other news, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of the transaction, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. This represents a 10.22 % 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.

Wall Street Analysts Forecast Growth

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

ABM Industries Company 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.