Pictet Asset Management Holding SA Buys 813 Shares of ABM Industries Incorporated (NYSE:ABM)

Pictet Asset Management Holding SA lifted its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,380 shares of the business services provider’s stock after acquiring an additional 813 shares during the quarter. Pictet Asset Management Holding SA’s holdings in ABM Industries were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABM. American Century Companies Inc. raised its position in shares of ABM Industries by 2,322.1% in the 4th quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider’s stock worth $60,582,000 after acquiring an additional 1,134,825 shares in the last quarter. Norges Bank bought a new stake in ABM Industries in the fourth quarter worth approximately $43,967,000. Pzena Investment Management LLC lifted its stake in ABM Industries by 22.5% in the fourth quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider’s stock valued at $43,550,000 after buying an additional 156,450 shares during the period. Sei Investments Co. boosted its holdings in shares of ABM Industries by 321.3% during the 4th quarter. Sei Investments Co. now owns 153,193 shares of the business services provider’s stock worth $7,840,000 after buying an additional 116,827 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of ABM Industries during the 4th quarter worth approximately $5,058,000. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Stock Up 7.2 %

ABM stock opened at $45.29 on Thursday. The stock has a fifty day moving average of $49.99 and a 200-day moving average of $52.42. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $59.78. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 2.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33.

ABM Industries Dividend Announcement

The company 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 $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s payout ratio is 84.13%.

Analysts Set New Price Targets

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

Insider Activity

In other news, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the sale, the chief accounting officer now owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. This represents a 18.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 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. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company 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.