Rene Jacobsen Sells 5,563 Shares of ABM Industries Incorporated (NYSE:ABM) Stock

ABM Industries Incorporated (NYSE:ABMGet Free Report) COO Rene Jacobsen sold 5,563 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $43.59, for a total transaction of $242,491.17. Following the transaction, the chief operating officer now owns 111,677 shares in the company, valued at $4,868,000.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ABM Industries Price Performance

Shares of NYSE ABM opened at $44.40 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48. ABM Industries Incorporated has a fifty-two week low of $37.61 and a fifty-two week high of $53.05. The stock has a market cap of $2.81 billion, a PE ratio of 11.36 and a beta of 1.15. The stock has a fifty day moving average of $41.68 and a 200-day moving average of $41.86.

ABM Industries (NYSE:ABMGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.01 billion. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 earnings per share. Equities research analysts anticipate that ABM Industries Incorporated will post 3.38 earnings per share for the current year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 23.02%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Truist Financial lifted their price target on ABM Industries from $43.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, December 14th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, ABM Industries currently has an average rating of “Hold” and an average price target of $45.20.

Check Out Our Latest Stock Analysis on ABM

Hedge Funds Weigh In On ABM Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd grew its holdings in ABM Industries by 203.0% during the fourth quarter. Quadrature Capital Ltd now owns 37,990 shares of the business services provider’s stock valued at $1,703,000 after purchasing an additional 25,453 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of ABM Industries by 8.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 235,754 shares of the business services provider’s stock valued at $10,569,000 after acquiring an additional 18,892 shares during the period. Virtu Financial LLC bought a new position in shares of ABM Industries during the 4th quarter valued at approximately $381,000. Price T Rowe Associates Inc. MD raised its stake in ABM Industries by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,138 shares of the business services provider’s stock worth $1,710,000 after acquiring an additional 2,305 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in ABM Industries during the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Company Profile

(Get Free Report)

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.

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