ABM Industries Incorporated (NYSE:ABM) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,103 shares of the business services provider's stock after buying an additional 7,904 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of ABM Industries worth $2,155,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABM. American Century Companies Inc. increased its position in shares of ABM Industries by 2,322.1% in the fourth quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider's stock valued at $60,582,000 after buying an additional 1,134,825 shares in the last quarter. Norges Bank acquired a new stake in shares of ABM Industries during the fourth quarter valued at $43,967,000. Pzena Investment Management LLC boosted its stake in shares of ABM Industries by 22.5% during the 4th quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider's stock worth $43,550,000 after purchasing an additional 156,450 shares during the last quarter. Sei Investments Co. grew its holdings in shares of ABM Industries by 321.3% during the fourth quarter. Sei Investments Co. now owns 153,193 shares of the business services provider's stock worth $7,840,000 after buying an additional 116,827 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of ABM Industries in the fourth quarter valued at approximately $5,058,000. Hedge funds and other institutional investors own 91.62% of the company's stock.

Insiders Place Their Bets

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction 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. The trade was a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

ABM Industries Trading Up 0.4 %

ABM stock traded up $0.18 on Thursday, hitting $48.92. 19,348 shares of the company were exchanged, compared to its average volume of 500,250. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 2.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The business's fifty day moving average is $48.19 and its two-hundred day moving average is $51.93. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.78.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, April 3rd. ABM Industries's dividend payout ratio is currently 84.13%.

Analysts Set New Price Targets

Separately, UBS Group cut 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.

About ABM Industries

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.