TCTC Holdings LLC Sells 1,600 Shares of ABM Industries Incorporated (NYSE:ABM)

TCTC Holdings LLC trimmed its stake in ABM Industries Incorporated (NYSE:ABM) by 26.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,500 shares of the business services provider’s stock after selling 1,600 shares during the period. TCTC Holdings LLC’s holdings in ABM Industries were worth $230,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in ABM Industries by 279.4% during the 3rd quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock worth $5,702,000 after buying an additional 79,587 shares during the last quarter. Empowered Funds LLC purchased a new position in ABM Industries during the 3rd quarter worth $1,982,000. Natixis Advisors LLC purchased a new position in ABM Industries during the 3rd quarter worth $543,000. Quest Partners LLC grew its stake in ABM Industries by 54.7% during the 3rd quarter. Quest Partners LLC now owns 15,204 shares of the business services provider’s stock worth $802,000 after buying an additional 5,379 shares during the last quarter. Finally, Pathstone Holdings LLC grew its stake in ABM Industries by 3.0% during the 3rd quarter. Pathstone Holdings LLC now owns 84,591 shares of the business services provider’s stock worth $4,463,000 after buying an additional 2,448 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at ABM Industries

In other news, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was 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 represents a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $528,400.00. Following the completion of the sale, the chief operating officer now owns 87,808 shares in the company, valued at $4,639,774.72. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

ABM Industries Stock Up 2.2 %

ABM Industries stock opened at $47.80 on Tuesday. 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 business’s 50-day simple moving average is $52.31 and its two-hundred day simple moving average is $53.24. The company has a market cap of $2.97 billion, a PE ratio of 37.63, a PEG ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a fifty-two week low of $42.28 and a fifty-two week high of $59.78.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. Equities analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently announced 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. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.22%. ABM Industries’s payout ratio is 84.13%.

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.