Raymond James Financial Inc. Takes $3.50 Million Position in ABM Industries Incorporated (NYSE:ABM)

Raymond James Financial Inc. acquired a new position in ABM Industries Incorporated (NYSE:ABM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 68,427 shares of the business services provider's stock, valued at approximately $3,502,000. Raymond James Financial Inc. owned 0.11% of ABM Industries as of its most recent filing with the Securities & Exchange Commission.

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

ABM Industries Stock Up 1.5 %

ABM traded up $0.72 during trading hours on Friday, hitting $49.71. 40,624 shares of the company's stock were exchanged, compared to its average volume of 499,351. The company has a current ratio of 1.33, a quick 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 market cap of $3.09 billion, a P/E ratio of 39.17, a price-to-earnings-growth ratio of 2.75 and a beta of 1.05. The firm has a 50 day moving average of $48.13 and a 200 day moving average of $51.90.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries's payout ratio is currently 84.13%.

Insider Activity at ABM Industries

In other news, COO Rene Jacobsen sold 10,000 shares of ABM Industries 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 in the company, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price objective on ABM Industries from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th.

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.