Linda Chavez Sells 3,000 Shares of ABM Industries, Inc. (ABM) Stock

ABM Industries, Inc. (NYSE:ABM) Director Linda Chavez sold 3,000 shares of ABM Industries stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $34.62, for a total transaction of $103,860.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of ABM stock opened at $34.28 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $2.31 billion, a P/E ratio of 18.14 and a beta of 0.58. ABM Industries, Inc. has a fifty-two week low of $25.64 and a fifty-two week high of $40.00.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Tuesday, December 18th. The business services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. ABM Industries had a net margin of 1.52% and a return on equity of 8.70%. During the same quarter in the previous year, the business posted $0.37 earnings per share. As a group, research analysts predict that ABM Industries, Inc. will post 1.97 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 4th. Investors of record on Thursday, January 3rd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, January 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from ABM Industries’s previous quarterly dividend of $0.18. ABM Industries’s payout ratio is 38.10%.

A number of brokerages have commented on ABM. CL King downgraded shares of ABM Industries from a “buy” rating to a “neutral” rating in a research note on Friday. Zacks Investment Research upgraded shares of ABM Industries from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Robert W. Baird dropped their price target on shares of ABM Industries from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, December 19th. TheStreet cut shares of ABM Industries from a “b” rating to a “c+” rating in a research report on Tuesday, December 11th. Finally, Sidoti dropped their price target on shares of ABM Industries from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $38.00.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of ABM Industries by 3.6% in the third quarter. BlackRock Inc. now owns 9,601,518 shares of the business services provider’s stock valued at $309,650,000 after purchasing an additional 332,496 shares in the last quarter. FMR LLC grew its holdings in shares of ABM Industries by 52.3% in the second quarter. FMR LLC now owns 3,158,348 shares of the business services provider’s stock valued at $92,160,000 after purchasing an additional 1,084,507 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of ABM Industries by 17.7% in the second quarter. MetLife Investment Advisors LLC now owns 30,335 shares of the business services provider’s stock valued at $885,000 after purchasing an additional 4,564 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of ABM Industries by 17.2% in the second quarter. Van ECK Associates Corp now owns 28,643 shares of the business services provider’s stock valued at $836,000 after purchasing an additional 4,204 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of ABM Industries by 61.8% in the second quarter. Bank of America Corp DE now owns 1,766,838 shares of the business services provider’s stock valued at $51,557,000 after purchasing an additional 675,127 shares in the last quarter.

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ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.

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