ABM Industries Incorporated (NYSE:ABM) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in ABM Industries Incorporated (NYSE:ABM) by 12.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,769 shares of the business services provider’s stock after selling 7,617 shares during the period. Thrivent Financial for Lutherans owned about 0.09% of ABM Industries worth $2,752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABM. SBI Securities Co. Ltd. purchased a new stake in ABM Industries during the fourth quarter worth $33,000. Adirondack Trust Co. raised its position in shares of ABM Industries by 28.6% in the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock worth $46,000 after acquiring an additional 595 shares in the last quarter. Quarry LP grew its position in shares of ABM Industries by 49.7% during the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock valued at $115,000 after acquiring an additional 721 shares during the period. Finally, KBC Group NV increased its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following 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 document filed with the SEC, which is accessible through the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at $978,137.16. The trade was a 18.64 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

ABM Industries Stock Performance

ABM opened at $48.26 on Friday. The firm’s fifty day simple moving average is $51.62 and its two-hundred day simple moving average is $52.82. ABM Industries Incorporated has a 52-week low of $42.63 and a 52-week high of $59.78. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 2.75 and a beta of 1.13. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.20%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s payout ratio is 84.13%.

ABM Industries Company 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.