ABM Industries Incorporated (NYSE:ABM) CFO Earl Ray Ellis Sells 40,000 Shares

ABM Industries Incorporated (NYSE:ABM) CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the transaction, the chief financial officer now owns 45,260 shares in the company, valued at approximately $2,442,229.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

ABM Industries Price Performance

ABM opened at $53.92 on Thursday. The firm has a market capitalization of $3.38 billion, a P/E ratio of 14.10 and a beta of 1.14. The stock has a fifty day moving average of $52.95 and a 200-day moving average of $50.03. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 12-month low of $38.48 and a 12-month high of $59.78.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.08. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the business earned $0.79 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be paid a $0.225 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.67%. ABM Industries’s dividend payout ratio is presently 23.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABM. Robert W. Baird lifted their target price on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Truist Financial boosted their price objective on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, September 9th. Finally, UBS Group raised their target price on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th.

Institutional Investors Weigh In On ABM Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABM. Creative Planning increased its stake in shares of ABM Industries by 20.8% in the third quarter. Creative Planning now owns 25,370 shares of the business services provider’s stock worth $1,339,000 after acquiring an additional 4,374 shares during the last quarter. Inspire Investing LLC grew its stake in ABM Industries by 12.4% in the third quarter. Inspire Investing LLC now owns 7,797 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 862 shares in the last quarter. CWM LLC increased its position in ABM Industries by 108.8% in the 3rd quarter. CWM LLC now owns 6,301 shares of the business services provider’s stock worth $332,000 after purchasing an additional 3,284 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of ABM Industries by 58.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock worth $84,000 after purchasing an additional 589 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ABM Industries during the 2nd quarter valued at about $1,467,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

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.