Latest Stocks: ABM Industries, Inc. (ABM) Position Reduced by Suntrust Banks Inc.

Latest Stocks: ABM Industries, Inc. (ABM) Position Reduced by Suntrust Banks Inc.

Suntrust Banks Inc. lowered its position in shares of ABM Industries, Inc. (NYSE:ABM) by 61.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,583 shares of the business services provider’s stock after selling 42,985 shares during the period. Suntrust Banks Inc.’s holdings in ABM Industries were worth $1,158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in ABM Industries by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 1,011,176 shares of the business services provider’s stock worth $44,088,000 after buying an additional 47,155 shares during the last quarter. Elkfork Partners LLC boosted its stake in shares of ABM Industries by 2.5% in the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock valued at $120,000 after buying an additional 66 shares in the last quarter. Capital Fund Management S.A. boosted its stake in shares of ABM Industries by 219.0% in the first quarter. Capital Fund Management S.A. now owns 20,100 shares of the business services provider’s stock valued at $876,000 after buying an additional 13,800 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of ABM Industries by 25.8% in the first quarter. First Trust Advisors LP now owns 23,075 shares of the business services provider’s stock valued at $1,006,000 after buying an additional 4,734 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in shares of ABM Industries during the first quarter valued at $240,000. 89.88% of the stock is owned by institutional investors and hedge funds.

ABM Industries, Inc. (NYSE ABM) opened at 43.68 on Tuesday. The company’s market cap is $2.43 billion. ABM Industries, Inc. has a 52-week low of $33.99 and a 52-week high of $45.03. The company has a 50-day moving average of $42.82 and a 200-day moving average of $41.98.

Several analysts have recently commented on the stock. Robert W. Baird raised shares of ABM Industries from a “neutral” rating to an “outperform” rating and increased their price target for the company from $46.00 to $50.00 in a research note on Thursday, March 9th. Zacks Investment Research lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. In related news, SVP Dean A. Chin sold 1,000 shares of ABM Industries stock in a transaction on Friday, March 10th. The shares were sold at an average price of $42.72, for a total value of $42,720.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rene Jacobsen sold 950 shares of ABM Industries stock in a transaction on Monday, April 10th. The shares were sold at an average price of $41.88, for a total transaction of $39,786.00. The disclosure for this sale can be found here. Insiders sold 20,761 shares of company stock worth $895,504 in the last 90 days. Company insiders own 1.30% of the company’s stock.

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