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

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

ABM Industries Price Performance

NYSE ABM opened at $53.16 on Thursday. The company has a 50-day moving average price of $52.93 and a 200-day moving average price of $53.65. ABM Industries Incorporated has a 52 week low of $39.64 and a 52 week high of $59.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.31 billion, a P/E ratio of 41.86, a PEG ratio of 2.79 and a beta of 1.16.

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

ABM Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 2nd were given a dividend of $0.265 per share. The ex-dividend date was Thursday, January 2nd. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 1.99%. ABM Industries’s payout ratio is 83.47%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of ABM Industries

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