Insider Selling: ABM Industries Incorporated (NYSE:ABM) CFO Sells 40,000 Shares of Stock

ABM Industries Incorporated (NYSE:ABM) CFO Earl Ray Ellis sold 40,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the transaction, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ABM Industries Stock Performance

NYSE:ABM opened at $55.01 on Friday. The company’s 50-day moving average is $53.07 and its two-hundred day moving average is $50.16. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 14.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. ABM Industries Incorporated has a 1-year low of $38.48 and a 1-year high of $59.78.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.08. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 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 3.3% compared to the same quarter last year. Analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be issued a $0.225 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.64%. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

Analyst Ratings Changes

ABM has been the topic of several research reports. UBS Group raised their price target on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Robert W. Baird upped their price target on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, Truist Financial lifted their price objective on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BOKF NA purchased a new stake in shares of ABM Industries in the 2nd quarter valued at approximately $30,000. Adirondack Trust Co. raised its position in ABM Industries by 250.0% in the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 500 shares during the period. Lazard Asset Management LLC lifted its stake in ABM Industries by 2,102.0% during the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,030 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after buying an additional 273 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of ABM Industries in the second quarter valued at $142,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

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.