Tocqueville Asset Management L.P. Has $6.51 Million Position in ABM Industries Incorporated (NYSE:ABM)

Tocqueville Asset Management L.P. cut its stake in ABM Industries Incorporated (NYSE:ABM) by 16.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,150 shares of the business services provider’s stock after selling 25,000 shares during the quarter. Tocqueville Asset Management L.P. owned 0.20% of ABM Industries worth $6,508,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in ABM Industries by 279.4% during the third quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock worth $5,702,000 after acquiring an additional 79,587 shares in the last quarter. Empowered Funds LLC bought a new position in shares of ABM Industries during the 3rd quarter valued at about $1,982,000. Natixis Advisors LLC acquired a new position in shares of ABM Industries in the 3rd quarter valued at approximately $543,000. Quest Partners LLC grew its position in shares of ABM Industries by 54.7% in the 3rd quarter. Quest Partners LLC now owns 15,204 shares of the business services provider’s stock valued at $802,000 after purchasing an additional 5,379 shares during the period. Finally, Pathstone Holdings LLC increased 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 purchasing an additional 2,448 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Stock Down 1.5 %

Shares of ABM Industries stock opened at $46.95 on Wednesday. The firm has a market cap of $2.92 billion, a PE ratio of 36.97, a P/E/G ratio of 2.75 and a beta of 1.13. The business’s 50 day simple moving average is $52.24 and its 200 day simple moving average is $53.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. ABM Industries Incorporated has a 52-week low of $42.63 and a 52-week high of $59.78.

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

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.26%. ABM Industries’s dividend payout ratio (DPR) is presently 84.13%.

Analyst Ratings Changes

Separately, UBS Group reduced their price target on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, March 13th.

Insiders Place Their Bets

In related news, COO Rene Jacobsen sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the transaction, the chief operating officer now directly owns 87,808 shares in the company, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total transaction of $224,153.16. Following the completion of the sale, the chief accounting officer now owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. This represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.