ABM Industries Incorporated (NYSE:ABM) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in ABM Industries Incorporated (NYSE:ABM) by 2.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,801 shares of the business services provider’s stock after acquiring an additional 347 shares during the period. Envestnet Asset Management Inc.’s holdings in ABM Industries were worth $655,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in ABM Industries during the fourth quarter worth approximately $33,000. Adirondack Trust Co. increased its holdings in shares of ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after buying an additional 200 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of ABM Industries by 193.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock worth $46,000 after buying an additional 595 shares during the period. KBC Group NV boosted its holdings in ABM Industries by 60.9% in the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock valued at $144,000 after acquiring an additional 1,067 shares during the last quarter. Finally, Cable Hill Partners LLC purchased a new stake in ABM Industries during the fourth quarter valued at about $231,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

NYSE:ABM opened at $49.71 on Friday. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.78. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 2.75 and a beta of 0.78. 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 firm’s fifty day simple moving average is $48.04 and its 200 day simple moving average is $51.86.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s payout ratio is 84.13%.

Analyst Ratings Changes

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

Insider Activity

In other news, COO Rene Jacobsen sold 10,000 shares of the company’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 completion of the transaction, the chief operating officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

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.