Corebridge Financial Inc. Lowers Stock Position in ABM Industries Incorporated (NYSE:ABM)

Corebridge Financial Inc. trimmed its position in ABM Industries Incorporated (NYSE:ABM) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,650 shares of the business services provider’s stock after selling 2,625 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of ABM Industries worth $1,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of ABM Industries by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,198,258 shares of the business services provider’s stock worth $419,587,000 after purchasing an additional 55,584 shares during the period. Geode Capital Management LLC boosted its holdings 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 worth $76,582,000 after buying an additional 7,050 shares during the period. American Century Companies Inc. increased its stake in ABM Industries by 2,322.1% in the 4th quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider’s stock worth $60,582,000 after buying an additional 1,134,825 shares in the last quarter. Pzena Investment Management LLC raised its holdings in ABM Industries by 22.5% during the fourth quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider’s stock valued at $43,550,000 after acquiring an additional 156,450 shares during the period. Finally, William Blair Investment Management LLC lifted its position in shares of ABM Industries by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 818,810 shares of the business services provider’s stock valued at $41,907,000 after acquiring an additional 19,783 shares in the last quarter. Institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $49.32 on Thursday. The firm’s fifty day moving average is $51.20 and its two-hundred day moving average is $52.78. ABM Industries Incorporated has a 52-week low of $42.63 and a 52-week high of $59.78. The company has a market cap of $3.07 billion, a P/E ratio of 38.83, a P/E/G ratio of 2.75 and a beta of 1.05. 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 Announces Dividend

The company 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. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.15%. ABM Industries’s dividend payout ratio is currently 84.13%.

Analysts Set New Price Targets

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

Insider Activity at ABM Industries

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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $528,400.00. Following the completion of the transaction, the chief operating officer now directly owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

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.