Thomas M. Gartland Sells 3,711 Shares of ABM Industries Incorporated (NYSE:ABM) Stock

ABM Industries Incorporated (NYSE:ABM) Director Thomas M. Gartland sold 3,711 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $45.52, for a total value of $168,924.72. Following the completion of the transaction, the director now owns 30,958 shares in the company, valued at $1,409,208.16. The trade was a 10.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ABM Industries Trading Down 0.2%

Shares of ABM Industries stock traded down $0.10 on Monday, hitting $44.83. 528,725 shares of the company’s stock traded hands, compared to its average volume of 502,858. The firm’s 50-day moving average price is $49.13 and its two-hundred day moving average price is $50.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $2.79 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. ABM Industries Incorporated has a one year low of $40.85 and a one year high of $59.78.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, research analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.36%. ABM Industries’s dividend payout ratio (DPR) is presently 85.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Baird R W upgraded ABM Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 9th. UBS Group upgraded ABM Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $54.00 in a research report on Monday, June 9th. Wall Street Zen downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 31st. Finally, Robert W. Baird raised shares of ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 target price on the stock in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ABM Industries has an average rating of “Moderate Buy” and an average target price of $55.00.

Institutional Trading of ABM Industries

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in ABM Industries during the fourth quarter valued at approximately $33,000. Summit Securities Group LLC bought a new position in shares of ABM Industries during the first quarter worth $38,000. Federated Hermes Inc. grew its holdings in shares of ABM Industries by 107.7% in the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock valued at $44,000 after buying an additional 477 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of ABM Industries in the 1st quarter valued at $45,000. Finally, Smartleaf Asset Management LLC increased its position in shares of ABM Industries by 193.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after buying an additional 595 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

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.