ABM Industries Inc. (NYSE:ABM) EVP Sarah H. Mcconnell sold 8,322 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of C$39.83, for a total value of C$331,465.26. Following the sale, the executive vice president now owns 66,429 shares of the company’s stock, valued at C$2,645,867.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of ABM Industries Inc. (NYSE:ABM) opened at 38.21 on Wednesday. The stock has a 50 day moving average price of $38.99 and a 200-day moving average price of $35.92. ABM Industries Inc. has a 52-week low of $26.50 and a 52-week high of $40.47. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 24.72 and a beta of 0.75.
ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.14. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company posted $0.47 earnings per share. The business’s revenue was down 3.8% on a year-over-year basis. On average, equities research analysts predict that ABM Industries Inc. will post $1.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Thursday, October 6th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, October 4th. ABM Industries’s dividend payout ratio is currently 42.58%.
Several research firms have commented on ABM. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “sell” rating in a research note on Tuesday, August 9th. Robert W. Baird reiterated an “outperform” rating and set a $44.00 price objective on shares of ABM Industries in a research note on Saturday, September 10th. Finally, Imperial Capital boosted their price objective on ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a research note on Thursday, June 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. ABM Industries has an average rating of “Buy” and an average price target of C$32.05.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Group LTD raised its position in ABM Industries by 5.9% in the first quarter. BlackRock Group LTD now owns 111,122 shares of the company’s stock worth $3,591,000 after buying an additional 6,235 shares in the last quarter. Creative Planning increased its stake in shares of ABM Industries by 3.7% in the second quarter. Creative Planning now owns 14,310 shares of the company’s stock worth $522,000 after buying an additional 510 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of ABM Industries by 33.0% in the second quarter. JPMorgan Chase & Co. now owns 508,481 shares of the company’s stock worth $18,550,000 after buying an additional 126,094 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of ABM Industries by 35.2% in the first quarter. UBS Asset Management Americas Inc. now owns 107,670 shares of the company’s stock worth $3,478,000 after buying an additional 28,022 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock worth $170,000 after buying an additional 1,591 shares during the last quarter. 90.56% of the stock is currently owned by hedge funds and other institutional investors.
ABM Industries Company Profile