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 ABM Industries stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $53.80 on Wednesday. The stock has a market cap of $3.35 billion, a PE ratio of 42.36, a PEG ratio of 2.79 and a beta of 1.16. The company’s fifty day moving average is $53.00 and its 200 day moving average is $53.66. 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.

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

ABM Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd were given a $0.265 dividend. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, January 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.97%. ABM Industries’s payout ratio is presently 83.47%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On ABM Industries

A number of hedge funds have recently modified their holdings of ABM. American Century Companies Inc. increased its position in shares of ABM Industries by 2,322.1% in the fourth quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider’s stock valued at $60,582,000 after acquiring an additional 1,134,825 shares during the period. Pzena Investment Management LLC increased its position in shares of ABM Industries by 67.0% in the third quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider’s stock valued at $36,640,000 after acquiring an additional 278,575 shares during the period. Sei Investments Co. increased its position in shares of ABM Industries by 321.3% in the fourth quarter. Sei Investments Co. now owns 153,193 shares of the business services provider’s stock valued at $7,840,000 after acquiring an additional 116,827 shares during the period. Barclays PLC increased its position in shares of ABM Industries by 238.7% in the third quarter. Barclays PLC now owns 113,850 shares of the business services provider’s stock valued at $6,004,000 after acquiring an additional 80,238 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of ABM Industries by 279.4% in the third quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock valued at $5,702,000 after acquiring an additional 79,587 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Company Profile

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.