Rene Jacobsen Sells 10,000 Shares of ABM Industries Incorporated (NYSE:ABM) Stock

ABM Industries Incorporated (NYSE:ABM) COO Rene Jacobsen sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the sale, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ABM Industries Stock Down 1.4 %

Shares of NYSE:ABM opened at $53.16 on Thursday. ABM Industries Incorporated has a one year low of $39.64 and a one year high of $59.78. The firm has a fifty day moving average price of $52.93 and a two-hundred day moving average price of $53.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 2.79 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. Analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Thursday, January 2nd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio (DPR) is 83.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of ABM Industries by 58.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after purchasing an additional 589 shares in the last quarter. CWM LLC lifted its position in ABM Industries by 108.8% during the 3rd quarter. CWM LLC now owns 6,301 shares of the business services provider’s stock valued at $332,000 after acquiring an additional 3,284 shares during the period. Inspire Investing LLC grew its holdings in ABM Industries by 12.4% in the third quarter. Inspire Investing LLC now owns 7,797 shares of the business services provider’s stock worth $411,000 after purchasing an additional 862 shares during the period. Creative Planning increased its stake in shares of ABM Industries by 20.8% during the third quarter. Creative Planning now owns 25,370 shares of the business services provider’s stock valued at $1,339,000 after purchasing an additional 4,374 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of ABM Industries by 21.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 135,085 shares of the business services provider’s stock valued at $7,127,000 after purchasing an additional 24,137 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group lifted their target price on ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, December 19th.

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.