First Trust Advisors LP Cuts Stock Position in ABM Industries Incorporated (NYSE:ABM)

First Trust Advisors LP trimmed its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 48.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,767 shares of the business services provider's stock after selling 43,962 shares during the quarter. First Trust Advisors LP owned about 0.08% of ABM Industries worth $2,394,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in shares of ABM Industries in the 4th quarter valued at $373,000. Keeley Teton Advisors LLC lifted its position in ABM Industries by 13.0% in the fourth quarter. Keeley Teton Advisors LLC now owns 146,592 shares of the business services provider's stock valued at $7,503,000 after purchasing an additional 16,903 shares during the period. XTX Topco Ltd purchased a new stake in ABM Industries in the 4th quarter valued at approximately $1,201,000. Mariner LLC increased its position in ABM Industries by 13.7% during the 4th quarter. Mariner LLC now owns 5,047 shares of the business services provider's stock worth $258,000 after purchasing an additional 608 shares during the period. Finally, Barclays PLC lifted its holdings in shares of ABM Industries by 6.4% in the 4th quarter. Barclays PLC now owns 121,081 shares of the business services provider's stock valued at $6,198,000 after buying an additional 7,231 shares during the period. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group reduced their target price 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 Price Performance

Shares of NYSE ABM traded up $0.02 on Wednesday, hitting $49.81. The company's stock had a trading volume of 271,754 shares, compared to its average volume of 499,069. 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 stock has a 50 day moving average of $47.78 and a 200-day moving average of $51.78. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.78. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 2.75 and a beta of 0.78.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Thursday, April 3rd were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Thursday, April 3rd. ABM Industries's dividend payout ratio is presently 84.13%.

Insider Activity at ABM Industries

In other ABM Industries news, EVP Sean Michael Mahoney sold 1,800 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total value of $90,054.00. Following the completion of the transaction, the executive vice president now directly owns 47,425 shares in the company, valued at approximately $2,372,672.75. The trade was a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

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.