ABM Industries Incorporated (NYSE:ABM) COO Sells $828,517.50 in Stock

ABM Industries Incorporated (NYSE:ABM - Get Free Report) COO Rene Jacobsen sold 17,250 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $48.03, for a total transaction of $828,517.50. Following the completion of the sale, the chief operating officer owned 71,256 shares in the company, valued at $3,422,425.68. The trade was a 19.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ABM Industries Trading Up 2.7%

ABM Industries stock traded up $1.27 during trading on Wednesday, hitting $48.89. The company's stock had a trading volume of 943,545 shares, compared to its average volume of 506,845. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 39.43, a P/E/G ratio of 2.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.55 and a current ratio of 1.55. ABM Industries Incorporated has a 1-year low of $40.85 and a 1-year high of $59.78. The stock's fifty day moving average is $48.96 and its 200 day moving average is $49.75.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). ABM Industries had a return on equity of 12.54% and a net margin of 0.93%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the business earned $0.87 earnings per share. ABM Industries's revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.17%. ABM Industries's dividend payout ratio is presently 85.48%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group raised ABM Industries from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $50.00 to $54.00 in a report on Monday, June 9th. Truist Financial upgraded shares of ABM Industries from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $55.00 to $58.00 in a research report on Wednesday, July 2nd. Baird R W upgraded shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Wall Street Zen raised ABM Industries from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Robert W. Baird raised ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price target on the stock in a research report on Monday, June 9th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ABM Industries presently has a consensus rating of "Buy" and a consensus target price of $56.00.

Institutional Investors Weigh In On ABM Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio purchased a new stake in shares of ABM Industries in the first quarter worth approximately $1,004,000. Intech Investment Management LLC grew its holdings in ABM Industries by 20.6% in the 1st quarter. Intech Investment Management LLC now owns 65,040 shares of the business services provider's stock valued at $3,080,000 after buying an additional 11,108 shares during the last quarter. Focus Partners Wealth bought a new position in ABM Industries in the 1st quarter worth approximately $477,000. Jane Street Group LLC grew its stake in shares of ABM Industries by 592.0% in the first quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider's stock worth $6,640,000 after acquiring an additional 119,942 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in ABM Industries by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,038 shares of the business services provider's stock worth $8,527,000 after acquiring an additional 8,704 shares during the period. 91.62% of the stock is currently owned by 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.

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