ABM Industries Incorporated (ABM) SVP Sells $28,408.40 in Stock
ABM Industries Incorporated (NYSE:ABM) SVP Dean A. Chin sold 632 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total transaction of $28,408.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of ABM Industries Incorporated (NYSE:ABM) traded down 0.96% during trading on Friday, hitting $43.26. 240,363 shares of the stock traded hands. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 192.27 and a beta of 0.80. The firm has a 50-day moving average of $43.07 and a 200-day moving average of $42.38. ABM Industries Incorporated has a 1-year low of $37.60 and a 1-year high of $45.12.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, June 7th. The business services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. ABM Industries had a net margin of 0.25% and a return on equity of 11.44%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $0.31 earnings per share. ABM Industries’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts forecast that ABM Industries Incorporated will post $1.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Thursday, July 6th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Monday, July 3rd. ABM Industries’s dividend payout ratio is presently 283.33%.
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A number of institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock worth $105,000 after buying an additional 946 shares in the last quarter. Elkfork Partners LLC increased its position 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 worth $120,000 after buying an additional 66 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of ABM Industries by 60.4% in the second quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock worth $146,000 after buying an additional 1,328 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in shares of ABM Industries by 2.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock worth $153,000 after buying an additional 84 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new position in shares of ABM Industries during the second quarter worth $162,000. 93.28% of the stock is owned by institutional investors and hedge funds.
ABM has been the subject of several research analyst reports. Robert W. Baird set a $50.00 price target on shares of ABM Industries and gave the company a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research raised shares of ABM Industries from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, July 17th. Sidoti raised shares of ABM Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $49.00 to $55.00 in a report on Thursday, July 13th. Finally, BidaskClub raised shares of ABM Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $48.25.
ABM Industries Company Profile
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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