Quantedge Capital Pte Ltd Sells 66,900 Shares of ABM Industries Incorporated (NYSE:ABM)

Quantedge Capital Pte Ltd lessened its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 65.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,300 shares of the business services provider's stock after selling 66,900 shares during the period. Quantedge Capital Pte Ltd owned approximately 0.06% of ABM Industries worth $1,807,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position 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 valued at $419,587,000 after acquiring an additional 55,584 shares during the last quarter. Invesco Ltd. increased its position in ABM Industries by 14.8% during the fourth quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider's stock valued at $77,666,000 after acquiring an additional 195,978 shares during the last quarter. American Century Companies Inc. increased 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 acquiring an additional 1,134,825 shares during the last quarter. Norges Bank bought a new position in ABM Industries during the fourth quarter valued at $43,967,000. Finally, Pzena Investment Management LLC increased its position 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 valued at $43,550,000 after acquiring an additional 156,450 shares during the last quarter. Institutional investors own 91.62% of the company's stock.

Insider Activity

In related news, CEO Scott B. Salmirs sold 800 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $52.09, for a total value of $41,672.00. Following the completion of the sale, the chief executive officer now directly owns 418,856 shares of the company's stock, valued at $21,818,209.04. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean Michael Mahoney sold 574 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $50.06, for a total transaction of $28,734.44. Following the completion of the sale, the executive vice president now directly owns 49,225 shares of the company's stock, valued at approximately $2,464,203.50. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,174 shares of company stock valued at $160,460. 0.90% of the stock is currently owned by company insiders.

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

ABM Industries Stock Down 0.8%

Shares of ABM opened at $51.55 on Thursday. The firm has a market capitalization of $3.21 billion, a P/E ratio of 40.59, a P/E/G ratio of 2.75 and a beta of 0.78. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average price of $47.60 and a 200-day moving average price of $51.70.

ABM Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Thursday, April 3rd. 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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