ABM Industries Incorporated (NYSE:ABM) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its stake in ABM Industries Incorporated (NYSE:ABM) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,281 shares of the business services provider’s stock after selling 22,982 shares during the period. Prudential Financial Inc. owned 0.33% of ABM Industries worth $10,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Natixis Advisors LLC acquired a new stake in shares of ABM Industries during the third quarter worth $543,000. Charles Schwab Investment Management Inc. raised its stake in ABM Industries by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,006 shares of the business services provider’s stock worth $35,930,000 after acquiring an additional 12,179 shares during the last quarter. Citigroup Inc. lifted its position in ABM Industries by 51.3% during the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock worth $5,329,000 after acquiring an additional 34,254 shares during the period. Cerity Partners LLC grew its stake in ABM Industries by 30.1% during the 3rd quarter. Cerity Partners LLC now owns 22,106 shares of the business services provider’s stock valued at $1,166,000 after purchasing an additional 5,114 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of ABM Industries by 18.2% in the third quarter. Daiwa Securities Group Inc. now owns 8,773 shares of the business services provider’s stock valued at $463,000 after purchasing an additional 1,351 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $47.28 on Friday. The company has a market capitalization of $2.94 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. 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 company’s fifty day moving average price is $51.51 and its 200 day moving average price is $52.80. ABM Industries Incorporated has a 1 year low of $42.63 and a 1 year high of $59.78.

ABM Industries Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.24%. ABM Industries’s payout ratio is 84.13%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Separately, UBS Group decreased their target price on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a research report 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.