Jane Street Group LLC Grows Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Jane Street Group LLC lifted its position in ABM Industries Incorporated (NYSE:ABM) by 91.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,094 shares of the business services provider’s stock after purchasing an additional 39,300 shares during the quarter. Jane Street Group LLC’s holdings in ABM Industries were worth $4,331,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in ABM Industries in the second quarter worth approximately $125,118,000. Pzena Investment Management LLC bought a new position in shares of ABM Industries during the 2nd quarter valued at $21,032,000. LSV Asset Management raised its position in ABM Industries by 92.3% in the 2nd quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock worth $38,449,000 after purchasing an additional 364,879 shares during the period. Allspring Global Investments Holdings LLC boosted its position in ABM Industries by 652,535.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 110,948 shares of the business services provider’s stock valued at $5,611,000 after buying an additional 110,931 shares during the period. Finally, Victory Capital Management Inc. boosted its position in ABM Industries by 279.4% during the third quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock valued at $5,702,000 after buying an additional 79,587 shares during the period. 91.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ABM shares. Truist Financial lifted their price objective on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, September 9th. UBS Group boosted their price objective on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, Robert W. Baird raised their target price on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, September 9th.

ABM Industries Stock Down 3.3 %

Shares of NYSE:ABM opened at $54.91 on Wednesday. The stock’s 50-day moving average is $55.37 and its 200 day moving average is $53.30. The company has a market cap of $3.45 billion, a PE ratio of 22.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. ABM Industries Incorporated has a 1 year low of $39.64 and a 1 year high of $59.78.

ABM Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd 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 1.93%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio is currently 43.80%.

Insider Buying and Selling

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.04% of the stock is currently owned by insiders.

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.