ABM Industries COO Sells $528,400 Worth of Stock

On February 3rd, Rene Jacobsen, the Chief Operating Officer of ABM Industries Incorporated (NYSE:ABM), sold 10,000 shares of the company's stock. The shares were sold at an average price of $52.84, amounting to a total of $528,400. Following this sale, Jacobsen now holds 87,808 shares, which are valued at approximately $4,639,774.72. This transaction reflects a decrease of 10.22% in Jacobsen's ownership of the stock. The details of the sale have been made public through a filing with the SEC.

ABM Industries Stock Performance

As of mid-day trading on Tuesday, ABM Industries shares were up $0.28 to reach $53.80. A total of 188,009 shares changed hands, well below the average trading volume of 305,482. The company has a market capitalization of $3.35 billion, with a price-to-earnings (P/E) ratio of 42.36 and a PEG ratio of 2.79. It also has a beta of 1.16, a debt-to-equity ratio of 0.73, and both a quick and current ratio of 1.33. Over the last year, ABM Industries has seen its stock price fluctuate between a low of $39.64 and a high of $59.78. The fifty-day and two-hundred day simple moving averages stand at $53.00 and $53.66, respectively.

Recent Earnings Reports

ABM Industries last reported its quarterly earnings on December 18th, revealing earnings per share (EPS) of $0.90 for the quarter, surpassing analysts' expectations of $0.87 by $0.03. The company generated revenue of $2.18 billion during this quarter, exceeding the consensus estimate of $2.08 billion. Notably, ABM Industries achieved a return on equity of 12.48% and a net profit margin of 0.97%. Compared to the previous year, the revenue for this quarter showed a 4.0% increase. Analysts predict that the company will report an EPS of 3.71 for the current fiscal year.

Dividend Increases

Recently, ABM Industries declared a quarterly dividend of $0.265 per share, which was paid on February 3rd. Shareholders on record as of January 2nd qualified for this dividend. This new dividend represents an increase from the previous quarterly amount of $0.23, resulting in an annualized dividend of $1.06 and a yield of 1.97%. The company's dividend payout ratio is currently at 83.47%.

Analyst Ratings

In a recent update from UBS Group, the price target for ABM Industries was raised from $55.00 to $56.00, maintaining a "neutral" rating for the stock.

Institutional Holdings

Institutional investors have actively changed their stakes in ABM Industries. For instance, Capital Performance Advisors LLP acquired a new stake worth around $30,000 in the third quarter, while SBI Securities Co. Ltd. added a position valued at approximately $33,000 in the fourth quarter. Additionally, Copeland Capital Management LLC invested $37,000 in ABM during the third quarter. Other institutions, such as Adirondack Trust Co., have also increased their holdings significantly. Currently, institutional investors and hedge funds own approximately 91.62% of the company’s stock.

About ABM Industries

ABM Industries Incorporated is a leader in providing integrated facility, infrastructure, and mobility solutions both in the United States and globally. The company operates through various segments, including Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions.

ABM, Stock, Sale