LSV Asset Management Acquires 42,482 Shares of ABM Industries Incorporated (NYSE:ABM)

LSV Asset Management grew its stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 832,947 shares of the business services provider's stock after acquiring an additional 42,482 shares during the quarter. LSV Asset Management owned about 1.34% of ABM Industries worth $42,630,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABM. Vanguard Group Inc. grew its stake in ABM Industries by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,198,258 shares of the business services provider's stock worth $419,587,000 after buying an additional 55,584 shares in the last quarter. Invesco Ltd. boosted its position in shares of ABM Industries by 14.8% during the 4th quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider's stock worth $77,666,000 after acquiring an additional 195,978 shares in the last quarter. Geode Capital Management LLC increased its stake in ABM Industries by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider's stock valued at $76,582,000 after acquiring an additional 7,050 shares during the last quarter. American Century Companies Inc. raised its position in ABM Industries by 2,322.1% during 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 purchasing an additional 1,134,825 shares in the last quarter. Finally, Norges Bank acquired a new position in ABM Industries during the fourth quarter valued at approximately $43,967,000. 91.62% of the stock is owned by institutional investors and hedge funds.

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 on the stock in a report on Thursday, March 13th.

ABM Industries Price Performance

Shares of ABM Industries stock traded down $0.01 during midday trading on Thursday, hitting $46.08. 170,297 shares of the company traded hands, compared to its average volume of 502,840. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 2.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The firm's fifty day moving average price is $49.28 and its 200-day moving average price is $52.24. ABM Industries Incorporated has a 12 month low of $40.85 and a 12 month high of $59.78.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.30%. ABM Industries's dividend payout ratio (DPR) is presently 84.13%.

Insider Activity

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was 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 owns 87,808 shares of the company's stock, valued at $4,639,774.72. This represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by corporate 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.