Lazard Asset Management LLC Sells 40,129 Shares of ABM Industries Incorporated (NYSE:ABM)

Lazard Asset Management LLC lowered its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 56.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,188 shares of the business services provider’s stock after selling 40,129 shares during the quarter. Lazard Asset Management LLC owned 0.05% of ABM Industries worth $1,595,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Olstein Capital Management L.P. grew its holdings in ABM Industries by 3.6% during the fourth quarter. Olstein Capital Management L.P. now owns 195,821 shares of the business services provider’s stock worth $10,022,000 after buying an additional 6,821 shares in the last quarter. KBC Group NV grew its holdings in ABM Industries by 60.9% during the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock worth $144,000 after buying an additional 1,067 shares in the last quarter. Sei Investments Co. grew its holdings in ABM Industries by 321.3% during the fourth 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. Wells Fargo & Company MN grew its holdings in ABM Industries by 23.1% during the fourth quarter. Wells Fargo & Company MN now owns 42,103 shares of the business services provider’s stock worth $2,155,000 after buying an additional 7,904 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in ABM Industries by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 138,889 shares of the business services provider’s stock worth $7,108,000 after buying an additional 3,804 shares in the last quarter. Institutional investors own 91.62% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Sean Michael Mahoney sold 1,800 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total transaction of $90,054.00. Following the transaction, the executive vice president now owns 47,425 shares of the company’s stock, valued at $2,372,672.75. This represents a 3.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott B. Salmirs sold 12,135 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $52.06, for a total value of $631,748.10. Following the transaction, the chief executive officer now directly owns 406,721 shares in the company, valued at $21,173,895.26. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,374 shares of company stock valued at $2,733,303. Insiders own 0.90% of the company’s stock.

ABM Industries Stock Up 0.6%

ABM stock opened at $52.62 on Monday. The stock’s fifty day simple moving average is $47.68 and its two-hundred day simple moving average is $51.66. 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 1-year low of $40.85 and a 1-year high of $59.78. The stock has a market cap of $3.27 billion, a P/E ratio of 41.44, a P/E/G ratio of 2.75 and a beta of 0.78.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd were given a $0.265 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.01%. ABM Industries’s dividend payout ratio is currently 84.13%.

Analysts Set New Price Targets

Separately, UBS Group cut their price objective 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.

ABM Industries Profile

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.