Franklin Resources Inc. reduced its holdings in ABM Industries, Inc. (NYSE:ABM) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,908,440 shares of the business services provider’s stock after selling 18,522 shares during the period. Franklin Resources Inc.’s holdings in ABM Industries were worth $61,547,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in ABM. BlackRock Inc. raised its stake in shares of ABM Industries by 3.6% during the 3rd quarter. BlackRock Inc. now owns 9,601,518 shares of the business services provider’s stock worth $309,650,000 after purchasing an additional 332,496 shares in the last quarter. FMR LLC raised its stake in shares of ABM Industries by 117.2% during the 3rd quarter. FMR LLC now owns 6,861,160 shares of the business services provider’s stock worth $221,272,000 after purchasing an additional 3,702,812 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ABM Industries by 15.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,993,373 shares of the business services provider’s stock worth $128,786,000 after purchasing an additional 537,375 shares in the last quarter. Bank of America Corp DE raised its stake in shares of ABM Industries by 61.8% during the 2nd quarter. Bank of America Corp DE now owns 1,766,838 shares of the business services provider’s stock worth $51,557,000 after purchasing an additional 675,127 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of ABM Industries by 6.2% during the 2nd quarter. Northern Trust Corp now owns 1,729,538 shares of the business services provider’s stock worth $50,467,000 after purchasing an additional 100,823 shares in the last quarter.
ABM opened at $29.11 on Friday. ABM Industries, Inc. has a fifty-two week low of $28.17 and a fifty-two week high of $44.70. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market cap of $1.95 billion, a PE ratio of 16.63 and a beta of 0.72.
A number of research firms have recently weighed in on ABM. ValuEngine raised ABM Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. TheStreet raised ABM Industries from a “c+” rating to a “b-” rating in a research note on Friday, September 14th. Zacks Investment Research raised ABM Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, Robert W. Baird downgraded ABM Industries from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $36.00 to $40.00 in a research note on Thursday, August 23rd. They noted that the move was a valuation call.
In other news, SVP Dean A. Chin sold 3,024 shares of the stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $31.20, for a total transaction of $94,348.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott B. Salmirs sold 6,239 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $33.98, for a total value of $212,001.22. Following the transaction, the insider now directly owns 120,693 shares in the company, valued at approximately $4,101,148.14. The disclosure for this sale can be found here. Insiders have sold a total of 11,281 shares of company stock valued at $367,677 over the last ninety days. Company insiders own 1.30% of the company’s stock.
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ABM Industries Company Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.
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