ABM Industries Inc. (ABM) EVP Sells C$331,465.26 in Stock
ABM Industries Inc. (NYSE:ABM) EVP Sarah H. Mcconnell sold 8,322 shares of the stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of C$39.83, for a total transaction of C$331,465.26. Following the sale, the executive vice president now directly owns 66,429 shares in the company, valued at approximately C$2,645,867.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of ABM Industries Inc. (NYSE:ABM) opened at 39.26 on Friday. ABM Industries Inc. has a 1-year low of $26.50 and a 1-year high of $40.47. The company’s 50 day moving average is $38.94 and its 200-day moving average is $35.74. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 25.39 and a beta of 0.75.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, September 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.40 by $0.14. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The business earned $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the business posted $0.47 earnings per share. ABM Industries’s revenue was down 3.8% compared to the same quarter last year. Equities analysts anticipate that ABM Industries Inc. will post $1.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Thursday, October 6th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, October 4th. ABM Industries’s payout ratio is 42.58%.
Several brokerages have recently issued reports on ABM. Zacks Investment Research raised shares of ABM Industries from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Friday, September 9th. Robert W. Baird restated an “outperform” rating and set a $44.00 target price on shares of ABM Industries in a research note on Saturday, September 10th. Finally, Imperial Capital upped their target price on shares of ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a research note on Thursday, June 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of C$32.05.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. raised its position in ABM Industries by 30.2% in the second quarter. Alliancebernstein L.P. now owns 2,676,142 shares of the company’s stock valued at $97,626,000 after buying an additional 620,108 shares during the last quarter. Hillcrest Asset Management LLC acquired a new position in ABM Industries during the first quarter valued at $10,624,000. Macquarie Group Ltd. raised its position in ABM Industries by 133.5% in the second quarter. Macquarie Group Ltd. now owns 498,041 shares of the company’s stock valued at $18,169,000 after buying an additional 284,750 shares during the last quarter. Capital World Investors acquired a new position in ABM Industries during the second quarter valued at $8,026,000. Finally, Aberdeen Asset Management PLC UK raised its position in ABM Industries by 85.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 467,016 shares of the company’s stock valued at $17,036,000 after buying an additional 214,644 shares during the last quarter. 90.56% of the stock is currently owned by hedge funds and other institutional investors.
About ABM Industries
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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