Victory Capital Management Inc. Raises Position in ABM Industries Incorporated (NYSE:ABM)

Victory Capital Management Inc. increased its holdings in ABM Industries Incorporated (NYSE:ABM) by 26.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,494 shares of the business services provider’s stock after purchasing an additional 28,427 shares during the quarter. Victory Capital Management Inc. owned 0.22% of ABM Industries worth $6,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Foundry Partners LLC increased its position in shares of ABM Industries by 694.2% in the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock valued at $4,583,000 after acquiring an additional 75,930 shares during the period. Miracle Mile Advisors LLC purchased a new position in shares of ABM Industries in the fourth quarter valued at about $392,000. Citigroup Inc. increased its position in shares of ABM Industries by 51.3% in the third quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock valued at $5,329,000 after acquiring an additional 34,254 shares during the period. Jane Street Group LLC increased its position in shares of ABM Industries by 91.8% in the third quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after acquiring an additional 39,300 shares during the period. Finally, Intech Investment Management LLC increased its position in shares of ABM Industries by 138.3% in the third quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock valued at $1,362,000 after acquiring an additional 14,977 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Down 0.6 %

Shares of ABM stock opened at $46.76 on Friday. ABM Industries Incorporated has a 12 month low of $41.51 and a 12 month high of $59.78. The stock has a market cap of $2.91 billion, a P/E ratio of 36.82, a P/E/G ratio of 2.75 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $52.47 and a two-hundred day simple moving average of $53.40.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data 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. The firm had revenue of $2.18 billion during 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 company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 earnings per share. On average, research analysts expect that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.27%. ABM Industries’s dividend payout ratio (DPR) is currently 83.46%.

Analyst Upgrades and Downgrades

Separately, UBS Group reduced their price target 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.

Insider Buying and Selling at ABM Industries

In other news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the sale, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was 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 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 owned by company 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.