Marshall Wace LLP Invests $373,000 in ABM Industries Incorporated (NYSE:ABM)

Marshall Wace LLP bought a new position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 7,290 shares of the business services provider's stock, valued at approximately $373,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABM. Miracle Mile Advisors LLC bought a new position in shares of ABM Industries in the fourth quarter valued at approximately $392,000. Olstein Capital Management L.P. increased its holdings in ABM Industries by 3.6% during the 4th quarter. Olstein Capital Management L.P. now owns 195,821 shares of the business services provider's stock valued at $10,022,000 after purchasing an additional 6,821 shares in the last quarter. KBC Group NV raised its position in ABM Industries by 60.9% in the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider's stock valued at $144,000 after purchasing an additional 1,067 shares during the last quarter. Sei Investments Co. boosted its stake in ABM Industries by 321.3% in the fourth quarter. Sei Investments Co. now owns 153,193 shares of the business services provider's stock worth $7,840,000 after purchasing an additional 116,827 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of ABM Industries by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 138,889 shares of the business services provider's stock worth $7,108,000 after purchasing an additional 3,804 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, UBS Group reduced their price target on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th.

Insiders Place Their Bets

In related news, COO Rene Jacobsen sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the sale, the chief operating officer now directly owns 87,808 shares of the company's stock, valued at $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.90% of the company's stock.

ABM Industries Stock Up 1.5 %

NYSE ABM opened at $49.71 on Friday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 2.75 and a beta of 0.78. ABM Industries Incorporated has a 52 week low of $40.85 and a 52 week high of $59.78. 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 stock has a fifty day moving average of $48.04 and a 200-day moving average of $51.86.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.13%. ABM Industries's dividend payout ratio is currently 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.

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