Thomas M. Gartland Sells 3,711 Shares of ABM Industries Incorporated (NYSE:ABM) Stock

ABM Industries Incorporated (NYSE:ABM - Get Free Report) Director Thomas M. Gartland sold 3,711 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $45.52, for a total value of $168,924.72. Following the sale, the director now owns 30,958 shares in the company, valued at approximately $1,409,208.16. This represents a 10.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ABM Industries Price Performance

ABM stock traded down $0.13 during mid-day trading on Thursday, hitting $44.06. The company had a trading volume of 428,444 shares, compared to its average volume of 501,201. The company has a 50-day moving average price of $49.14 and a 200 day moving average price of $50.67. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.78. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 2.28 and a beta of 0.83. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.83.

ABM Industries (NYSE:ABM - Get Free Report) last posted its earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). The business 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 company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. On average, research analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be paid a $0.265 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.06 annualized dividend and a yield of 2.41%. ABM Industries's dividend payout ratio (DPR) is 85.48%.

Institutional Investors Weigh In On ABM Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of ABM Industries during the fourth quarter worth approximately $33,000. Summit Securities Group LLC acquired a new position in shares of ABM Industries in the first quarter valued at approximately $38,000. Federated Hermes Inc. increased its position in shares of ABM Industries by 107.7% during the first quarter. Federated Hermes Inc. now owns 920 shares of the business services provider's stock worth $44,000 after acquiring an additional 477 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in ABM Industries in the first quarter valued at approximately $45,000. Finally, Smartleaf Asset Management LLC increased its holdings in ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock valued at $46,000 after buying an additional 595 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ABM shares. Robert W. Baird upgraded shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price target for the company in a research report on Monday, June 9th. Baird R W raised ABM Industries from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Wall Street Zen cut shares of ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 31st. Finally, UBS Group upgraded shares of 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 research note on Monday, June 9th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

About ABM Industries

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.