ABM Industries Inc. (NYSE:ABM) EVP Sarah H. Mcconnell sold 8,322 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of C$39.83, for a total value of C$331,465.26. Following the transaction, the executive vice president now directly owns 66,429 shares in the company, valued at C$2,645,867.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
ABM Industries Inc. (NYSE:ABM) opened at 39.26 on Friday. ABM Industries Inc. has a 12 month low of $26.50 and a 12 month high of $40.47. The firm has a 50-day moving average price of $38.94 and a 200 day moving average price of $35.74. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 25.39 and a beta of 0.75.
ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, September 7th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.14. The company earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. On average, equities analysts forecast that ABM Industries Inc. will post $1.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be paid a $0.165 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $0.66 annualized dividend and a dividend yield of 1.68%. ABM Industries’s dividend payout ratio (DPR) is currently 42.58%.
ABM has been the topic of several recent analyst reports. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “sell” rating in a research report on Tuesday, August 9th. Robert W. Baird reissued an “outperform” rating and set a $40.00 price target on shares of ABM Industries in a research report on Wednesday, August 31st. Finally, Imperial Capital upped their price target on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, June 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of C$32.05.
Large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its stake in ABM Industries by 30.2% in the second quarter. Alliancebernstein L.P. now owns 2,676,142 shares of the company’s stock valued at $97,626,000 after buying an additional 620,108 shares during the period. Hillcrest Asset Management LLC purchased a new stake in ABM Industries during the first quarter valued at approximately $10,624,000. Macquarie Group Ltd. boosted its stake in ABM Industries by 133.5% in the second quarter. Macquarie Group Ltd. now owns 498,041 shares of the company’s stock valued at $18,169,000 after buying an additional 284,750 shares during the period. Capital World Investors purchased a new stake in ABM Industries during the second quarter valued at approximately $8,026,000. Finally, Aberdeen Asset Management PLC UK boosted its stake in ABM Industries by 85.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 467,016 shares of the company’s stock valued at $17,036,000 after buying an additional 214,644 shares during the period. 90.56% of the stock is owned by institutional investors.
About ABM Industries
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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