ABM Industries Incorporated (NYSE:ABM) Receives Consensus Rating of “Hold” from Brokerages

ABM Industries Incorporated (NYSE:ABM) has received a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $45.20.

Separately, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief operating officer now owns 111,677 shares of the company’s stock, valued at $4,868,000.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the transaction, the chief accounting officer now directly owns 19,972 shares in the company, valued at approximately $896,543.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rene Jacobsen sold 5,563 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now directly owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in ABM Industries in the 4th quarter worth $25,000. SRS Capital Advisors Inc. grew its stake in shares of ABM Industries by 323.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock valued at $30,000 after buying an additional 511 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of ABM Industries in the fourth quarter worth about $48,000. Clarity Asset Management Inc. bought a new stake in shares of ABM Industries in the 4th quarter valued at about $54,000. Finally, Quest Partners LLC purchased a new stake in ABM Industries during the 4th quarter valued at about $58,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Trading Up 0.3 %

NYSE:ABM opened at $44.46 on Tuesday. The firm’s 50 day moving average is $42.67 and its 200 day moving average is $42.40. ABM Industries has a 12 month low of $37.61 and a 12 month high of $53.05. The stock has a market capitalization of $2.81 billion, a PE ratio of 11.37 and a beta of 1.16. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts expect that ABM Industries will post 3.37 earnings per share for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 2.02%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s dividend payout ratio is 23.02%.

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.