ABM Industries Incorporated (NYSE:ABM) EVP Sells $567,675.00 in Stock

ABM Industries Incorporated (NYSE:ABM) EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ABM Industries Stock Performance

Shares of NYSE:ABM opened at $44.77 on Friday. The firm has a 50 day moving average of $43.38 and a 200 day moving average of $42.49. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 11.45 and a beta of 1.14. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 52 week low of $37.61 and a 52 week high of $53.05.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share (EPS) 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 the consensus estimate of $2.01 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, sell-side analysts predict that ABM Industries Incorporated will post 3.37 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s payout ratio is 23.02%.

Hedge Funds Weigh In On ABM Industries

Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ABM Industries by 15.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,216 shares of the business services provider’s stock valued at $637,000 after acquiring an additional 1,851 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of ABM Industries by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 611,698 shares of the business services provider’s stock valued at $24,474,000 after acquiring an additional 15,976 shares during the period. Van ECK Associates Corp increased its position in shares of ABM Industries by 26.2% in the 3rd quarter. Van ECK Associates Corp now owns 67,585 shares of the business services provider’s stock valued at $2,704,000 after acquiring an additional 14,029 shares during the period. Strs Ohio increased its position in shares of ABM Industries by 25.1% in the 3rd quarter. Strs Ohio now owns 26,400 shares of the business services provider’s stock valued at $1,056,000 after acquiring an additional 5,300 shares during the period. Finally, Cornerstone Wealth Management LLC increased its position in shares of ABM Industries by 8.1% in the 4th quarter. Cornerstone Wealth Management LLC now owns 9,207 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 688 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.20.

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. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.