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

ABM Industries Incorporated (NYSE:ABM) has received an average rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $48.80.

Several equities research analysts have weighed in on the company. UBS Group upped their price target on ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. StockNews.com upgraded ABM Industries from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Robert W. Baird upped their price target on ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, June 10th.

Insider Buying and Selling

In other ABM Industries news, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total transaction of $646,418.88. Following the completion of the sale, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the sale, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at approximately $3,723,443.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the sale, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at $20,195,357.40. The disclosure for this sale can be found here. Insiders have sold 78,778 shares of company stock worth $4,039,248 in the last quarter. 1.04% of the stock is owned by insiders.

Institutional Trading of ABM Industries

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of ABM Industries in the fourth quarter valued at approximately $31,310,000. LSV Asset Management purchased a new stake in shares of ABM Industries in the first quarter valued at approximately $17,645,000. SG Capital Management LLC purchased a new stake in shares of ABM Industries in the first quarter valued at approximately $13,730,000. Invenomic Capital Management LP purchased a new stake in shares of ABM Industries in the first quarter valued at approximately $10,071,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of ABM Industries by 652,535.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 110,948 shares of the business services provider’s stock valued at $5,611,000 after buying an additional 110,931 shares in the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Price Performance

ABM opened at $55.56 on Friday. The stock’s 50-day moving average price is $50.56 and its 200 day moving average price is $45.66. ABM Industries has a 12-month low of $37.61 and a 12-month high of $56.30. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 14.54 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the company earned $0.90 EPS. ABM Industries’s revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that ABM Industries will post 3.46 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a yield of 1.62%. ABM Industries’s dividend payout ratio is presently 23.56%.

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.