Victory Capital Management Inc. Purchases 28,427 Shares of ABM Industries Incorporated (NYSE:ABM)

Victory Capital Management Inc. grew its position in ABM Industries Incorporated (NYSE:ABM) by 26.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 136,494 shares of the business services provider’s stock after acquiring an additional 28,427 shares during the quarter. Victory Capital Management Inc.’s holdings in ABM Industries were worth $6,986,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Pzena Investment Management LLC lifted its stake in ABM Industries by 67.0% during the 3rd quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider’s stock valued at $36,640,000 after acquiring an additional 278,575 shares during the period. Barclays PLC lifted its stake in ABM Industries by 238.7% during the 3rd quarter. Barclays PLC now owns 113,850 shares of the business services provider’s stock valued at $6,004,000 after acquiring an additional 80,238 shares during the period. Foundry Partners LLC lifted its stake in ABM Industries by 694.2% during the 3rd quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock valued at $4,583,000 after acquiring an additional 75,930 shares during the period. Jane Street Group LLC lifted its stake in ABM Industries by 91.8% during the 3rd quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after acquiring an additional 39,300 shares during the period. Finally, Empowered Funds LLC acquired a new stake in ABM Industries during the 3rd quarter valued at approximately $1,982,000. 91.62% of the stock is currently owned by institutional investors.

Insider Activity

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 87,808 shares in the company, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

ABM Industries Trading Down 0.6 %

Shares of ABM opened at $46.76 on Friday. 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 $41.51 and a 12-month high of $59.78. The firm has a 50-day moving average price of $52.47 and a 200 day moving average price of $53.40. The firm has a market capitalization of $2.91 billion, a P/E ratio of 36.82, a P/E/G ratio of 2.75 and a beta of 1.13.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. ABM Industries’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Sell-side analysts forecast that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The firm 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 2.27%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s payout ratio is 83.46%.

Wall Street Analyst Weigh In

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

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.