Raymond James Financial Inc. Buys Shares of 68,427 ABM Industries Incorporated (NYSE:ABM)

Raymond James Financial Inc. purchased a new position in ABM Industries Incorporated (NYSE:ABM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 68,427 shares of the business services provider’s stock, valued at approximately $3,502,000. Raymond James Financial Inc. owned about 0.11% of ABM Industries as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ABM. Barclays PLC lifted its holdings in ABM Industries by 238.7% in the third quarter. Barclays PLC now owns 113,850 shares of the business services provider’s stock worth $6,004,000 after acquiring an additional 80,238 shares during the last quarter. Tidal Investments LLC raised its position in shares of ABM Industries by 176.4% during the 3rd quarter. Tidal Investments LLC now owns 23,761 shares of the business services provider’s stock worth $1,254,000 after purchasing an additional 15,163 shares during the period. Franklin Resources Inc. bought a new stake in shares of ABM Industries in the 3rd quarter worth approximately $446,000. Principal Financial Group Inc. boosted its position in ABM Industries by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock valued at $17,286,000 after purchasing an additional 15,438 shares during the period. Finally, First Hawaiian Bank grew its stake in ABM Industries by 32.4% during the 4th quarter. First Hawaiian Bank now owns 10,682 shares of the business services provider’s stock worth $547,000 after buying an additional 2,614 shares during the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the transaction, the chief operating officer now directly owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group cut their target price on ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $48.33 on Monday. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.78. The company has a market cap of $3.01 billion, a PE ratio of 38.06, a P/E/G ratio of 2.75 and a beta of 1.05. The stock has a 50 day simple moving average of $48.44 and a 200-day simple moving average of $52.01. 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 Announces Dividend

The firm 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. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is 84.13%.

About ABM Industries

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.