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

Lazard Asset Management LLC trimmed its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 56.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 31,188 shares of the business services provider’s stock after selling 40,129 shares during the quarter. Lazard Asset Management LLC’s holdings in ABM Industries were worth $1,595,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of ABM Industries during the 4th quarter valued at $33,000. Adirondack Trust Co. raised its stake in shares of ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 200 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 595 shares during the period. Sterling Capital Management LLC increased its stake in ABM Industries by 834.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider’s stock worth $104,000 after acquiring an additional 1,820 shares during the last quarter. Finally, KBC Group NV increased its stake in ABM Industries by 60.9% in the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock worth $144,000 after acquiring an additional 1,067 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group decreased 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.

ABM Industries Price Performance

Shares of NYSE ABM opened at $52.62 on Monday. The firm has a market capitalization 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. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The stock’s 50-day simple moving average is $47.68 and its two-hundred day simple moving average is $51.66. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.78.

ABM Industries Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Scott B. Salmirs sold 12,135 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 406,721 shares in the company, valued at approximately $21,173,895.26. The trade was a 2.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sean Michael Mahoney sold 1,800 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 47,425 shares of the company’s stock, valued at approximately $2,372,672.75. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,374 shares of company stock worth $2,733,303 in the last ninety days. 0.90% of the stock is currently owned by 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.