ABM Industries Incorporated (NYSE:ABM) COO Rene Jacobsen Sells 5,563 Shares

ABM Industries Incorporated (NYSE:ABM) COO Rene Jacobsen sold 5,563 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now owns 111,677 shares in the company, valued at approximately $4,868,000.43. The transaction was disclosed in a filing with the SEC, which is available at this link.

ABM Industries Trading Up 1.5 %

Shares of NYSE:ABM opened at $44.40 on Thursday. The business’s 50 day moving average price is $41.68 and its 200-day moving average price is $41.86. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $53.05. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 11.36 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.38 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a yield of 2.03%. ABM Industries’s dividend payout ratio (DPR) is currently 23.02%.

Wall Street Analyst Weigh In

ABM has been the subject of several analyst reports. StockNews.com cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Truist Financial lifted their price objective on shares of ABM Industries from $43.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, December 14th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, ABM Industries currently has an average rating of “Hold” and a consensus price target of $45.20.

Hedge Funds Weigh In On ABM Industries

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of ABM Industries during the fourth quarter worth approximately $25,000. SRS Capital Advisors Inc. grew its holdings in shares of ABM Industries by 323.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock worth $30,000 after buying an additional 511 shares in the last quarter. Amundi purchased a new position in shares of ABM Industries in the fourth quarter worth about $36,000. Exchange Traded Concepts LLC acquired a new position in ABM Industries during the fourth quarter worth about $48,000. Finally, Point72 Asset Management L.P. purchased a new stake in ABM Industries during the 2nd quarter valued at about $46,000. 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.