ABM Industries Incorporated (NYSE:ABM) COO Sells $242,491.17 in Stock

ABM Industries Incorporated (NYSE:ABM) COO Rene Jacobsen sold 5,563 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $43.59, for a total transaction of $242,491.17. Following the sale, the chief operating officer now owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

ABM Industries Price Performance

ABM stock opened at $44.62 on Friday. The firm has a 50 day moving average of $41.73 and a 200-day moving average of $41.88. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 12 month low of $37.61 and a 12 month high of $53.05. The firm has a market capitalization of $2.82 billion, a P/E ratio of 11.41 and a beta of 1.15.

ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.01 billion. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. ABM Industries’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. As a group, sell-side analysts predict that ABM Industries Incorporated will post 3.38 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s dividend payout ratio is currently 23.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABM. Truist Financial increased their target price on shares of ABM Industries from $43.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, December 14th. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, ABM Industries currently has a consensus rating of “Hold” and a consensus price target of $45.20.

Institutional Investors Weigh In On ABM Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its stake in ABM Industries by 19.3% in the first quarter. State Street Corp now owns 7,059,579 shares of the business services provider’s stock valued at $325,023,000 after purchasing an additional 1,140,097 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in ABM Industries by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,687,476 shares of the business services provider’s stock valued at $210,141,000 after purchasing an additional 66,334 shares in the last quarter. Victory Capital Management Inc. raised its stake in ABM Industries by 16.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,931,733 shares of the business services provider’s stock valued at $85,808,000 after purchasing an additional 268,099 shares in the last quarter. Macquarie Group Ltd. raised its stake in ABM Industries by 2.1% in the first quarter. Macquarie Group Ltd. now owns 1,836,382 shares of the business services provider’s stock valued at $82,527,000 after purchasing an additional 38,047 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of ABM Industries by 353.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,396,596 shares of the business services provider’s stock worth $60,641,000 after acquiring an additional 1,088,389 shares in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Company 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.