ABM Industries Incorporated (NYSE:ABM) Given Average Recommendation of “Hold” by Brokerages

Shares of ABM Industries Incorporated (NYSE:ABM) have received a consensus rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $43.25.

Several research analysts recently commented on the stock. KeyCorp reduced their price target on shares of ABM Industries from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, September 11th. StockNews.com initiated coverage on shares of ABM Industries in a research report on Thursday, October 5th. They set a “hold” rating on the stock. UBS Group cut their target price on shares of ABM Industries from $50.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, September 8th. William Blair downgraded shares of ABM Industries from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 7th. Finally, Robert W. Baird cut their target price on shares of ABM Industries from $52.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, September 8th.

Insider Activity

In other news, COO Rene Jacobsen sold 6,341 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $44.00, for a total value of $279,004.00. Following the sale, the chief operating officer now directly owns 59,059 shares in the company, valued at approximately $2,598,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.85% of the company’s stock.

Institutional Trading of ABM Industries

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in ABM Industries by 19.3% in the 1st quarter. State Street Corp now owns 7,059,579 shares of the business services provider’s stock worth $325,023,000 after purchasing an additional 1,140,097 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ABM Industries by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,591,402 shares of the business services provider’s stock worth $195,824,000 after purchasing an additional 27,901 shares in the last quarter. Victory Capital Management Inc. boosted its stake in ABM Industries by 9.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,108,188 shares of the business services provider’s stock worth $94,742,000 after purchasing an additional 176,455 shares in the last quarter. Boston Partners lifted its stake in ABM Industries by 1.1% during the 1st quarter. Boston Partners now owns 1,842,154 shares of the business services provider’s stock valued at $81,981,000 after acquiring an additional 20,696 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in ABM Industries by 2.1% during the 1st quarter. Macquarie Group Ltd. now owns 1,836,382 shares of the business services provider’s stock valued at $82,527,000 after acquiring an additional 38,047 shares during the period. 86.42% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Trading Up 0.3 %

ABM stock opened at $39.33 on Tuesday. The company has a market capitalization of $2.58 billion, a PE ratio of 11.05 and a beta of 1.09. ABM Industries has a 12 month low of $37.61 and a 12 month high of $49.58. The firm’s 50-day moving average is $41.80 and its 200 day moving average is $43.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.47 and a quick ratio of 1.47.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.79 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.09). The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.01 billion. ABM Industries had a return on equity of 12.69% and a net margin of 2.96%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. On average, research analysts anticipate that ABM Industries will post 3.41 EPS for the current year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Thursday, October 5th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, October 4th. ABM Industries’s dividend payout ratio is currently 24.72%.

About ABM Industries

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. The company operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.