Hsbc Holdings PLC Has $1.25 Million Stake in ABM Industries Incorporated (NYSE:ABM)

Hsbc Holdings PLC reduced its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 17.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,465 shares of the business services provider’s stock after selling 5,338 shares during the quarter. Hsbc Holdings PLC’s holdings in ABM Industries were worth $1,252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Barclays PLC grew its holdings in ABM Industries by 238.7% during the third quarter. Barclays PLC now owns 113,850 shares of the business services provider’s stock valued at $6,004,000 after purchasing an additional 80,238 shares during the period. Tidal Investments LLC grew its holdings in shares of ABM Industries by 176.4% in the 3rd quarter. Tidal Investments LLC now owns 23,761 shares of the business services provider’s stock valued at $1,254,000 after buying an additional 15,163 shares during the period. Principal Financial Group Inc. increased its position in shares of ABM Industries by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock valued at $17,286,000 after buying an additional 15,438 shares in the last quarter. First Hawaiian Bank raised its stake in ABM Industries by 32.4% during the 4th quarter. First Hawaiian Bank now owns 10,682 shares of the business services provider’s stock worth $547,000 after buying an additional 2,614 shares during the period. Finally, Miracle Mile Advisors LLC bought a new position in ABM Industries during the fourth quarter worth about $392,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Stock Up 1.5 %

Shares of ABM stock opened at $49.71 on Friday. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 39.14, a P/E/G ratio of 2.75 and a beta of 0.78. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.78. The firm has a fifty day moving average of $48.04 and a 200-day moving average of $51.87. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders 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 2.13%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s dividend payout ratio is 84.13%.

Insider Activity

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the business’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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.