ABM Industries Incorporated (NYSE:ABM) Holdings Lowered by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 17.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,465 shares of the business services provider's stock after selling 5,338 shares during the quarter. Hsbc Holdings PLC's holdings in ABM Industries were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of ABM Industries by 0.7% in the 4th 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. Invesco Ltd. raised its stake in ABM Industries by 14.8% in the fourth quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider's stock worth $77,666,000 after buying an additional 195,978 shares in the last quarter. American Century Companies Inc. increased its position in ABM Industries by 2,322.1% during the 4th 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 position in ABM Industries in the 4th quarter worth approximately $43,967,000. Finally, Pzena Investment Management LLC grew 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 worth $43,550,000 after acquiring an additional 156,450 shares during the period. Hedge funds and other institutional investors own 91.62% of the company's stock.

Wall Street Analyst Weigh In

Separately, UBS Group cut their price objective on shares of 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 Transactions at ABM Industries

In other news, EVP Sean Michael Mahoney sold 1,800 shares of ABM Industries stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the sale, the executive vice president now directly owns 47,425 shares in the company, valued at approximately $2,372,672.75. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company's stock.

ABM Industries Stock Performance

NYSE:ABM traded up $0.29 during midday trading on Thursday, reaching $50.14. The stock had a trading volume of 35,232 shares, compared to its average volume of 497,238. The stock has a market cap of $3.12 billion, a P/E ratio of 39.48, a P/E/G ratio of 2.75 and a beta of 0.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.78. The firm has a fifty day simple moving average of $47.78 and a two-hundred day simple moving average of $51.78.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.11%. The ex-dividend date was Thursday, April 3rd. ABM Industries's payout ratio is 84.13%.

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.