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 shares were sold at an average price of $48.03, for a total transaction of $828,517.50. Following the completion of the transaction, the chief operating officer directly owned 71,256 shares in the company, valued at $3,422,425.68. This trade represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ABM Industries Stock Performance

Shares of NYSE:ABM traded down $0.33 during midday trading on Friday, hitting $48.75. The stock had a trading volume of 333,991 shares, compared to its average volume of 478,060. The company has a market capitalization of $3.04 billion, a PE ratio of 39.32, a P/E/G ratio of 2.53 and a beta of 0.78. The stock has a 50 day moving average price of $48.97 and a two-hundred day moving average price of $49.74. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83. ABM Industries Incorporated has a 1 year low of $40.85 and a 1 year high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last issued its earnings results 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). The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.07 billion. ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. The firm's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. As a group, equities analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Robert W. Baird raised shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price on the stock in a research report on Monday, June 9th. UBS Group raised shares of ABM Industries from a "neutral" rating to a "buy" rating and increased their target price for the company from $50.00 to $54.00 in a research report on Monday, June 9th. Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Wall Street Zen raised shares of ABM Industries from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Truist Financial raised shares of ABM Industries from a "hold" rating to a "buy" rating and raised their price objective for the stock from $55.00 to $58.00 in a research report on Wednesday, July 2nd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $56.00.

Institutional Trading of ABM Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of ABM Industries by 0.4% in the first quarter. Royal Bank of Canada now owns 86,571 shares of the business services provider's stock valued at $4,100,000 after purchasing an additional 312 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of ABM Industries by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,615 shares of the business services provider's stock valued at $339,000 after purchasing an additional 329 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of ABM Industries by 2.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,801 shares of the business services provider's stock valued at $655,000 after purchasing an additional 347 shares during the period. HighTower Advisors LLC lifted its stake in shares of ABM Industries by 1.8% in the first quarter. HighTower Advisors LLC now owns 20,398 shares of the business services provider's stock valued at $966,000 after purchasing an additional 362 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of ABM Industries by 6.3% in the first quarter. Cetera Investment Advisers now owns 7,264 shares of the business services provider's stock valued at $344,000 after purchasing an additional 430 shares during the period. Institutional investors and hedge funds own 91.62% of the company's stock.

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.