Insider Selling: ABM Industries Incorporated (NYSE:ABM) COO Sells 10,000 Shares of Stock

ABM Industries Incorporated (NYSE:ABM) COO Rene Jacobsen sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the transaction, the chief operating officer now directly owns 87,808 shares in the company, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

ABM Industries Stock Performance

Shares of ABM opened at $53.17 on Friday. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 2.79 and a beta of 1.16. The company’s fifty day moving average is $52.93 and its 200-day moving average is $53.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a 12 month low of $39.72 and a 12 month high of $59.78.

ABM Industries (NYSE:ABM) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 2nd were issued a $0.265 dividend. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, January 2nd. ABM Industries’s payout ratio is 83.47%.

Analyst Ratings Changes

Separately, UBS Group upped their target price on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th.

Institutional Investors Weigh In On ABM Industries

A number of large investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of ABM Industries in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new position in ABM Industries in the 4th quarter worth $33,000. Copeland Capital Management LLC acquired a new position in ABM Industries during the 3rd quarter worth $37,000. Adirondack Trust Co. boosted its holdings in ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 200 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 595 shares during the last quarter. 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.