Rene Jacobsen Sells 10,000 Shares of ABM Industries Incorporated (NYSE:ABM) Stock

ABM Industries Incorporated (NYSE:ABM - Get Free Report) COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction that occurred 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 owns 87,808 shares of the company's stock, valued at $4,639,774.72. This represents a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ABM Industries Stock Down 0.6 %

ABM stock traded down $0.30 during midday trading on Friday, reaching $52.88. 184,608 shares of the company were exchanged, compared to its average volume of 284,046. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. ABM Industries Incorporated has a 1-year low of $39.77 and a 1-year high of $59.78. The stock's 50-day simple moving average is $52.76 and its 200 day simple moving average is $53.63. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 41.63, a price-to-earnings-growth ratio of 2.79 and a beta of 1.16.

ABM Industries (NYSE:ABM - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The company had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.08 billion. During the same quarter last year, the company earned $1.01 earnings per share. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from ABM Industries's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, January 2nd. ABM Industries's payout ratio is presently 83.47%.

Wall Street Analyst Weigh In

Separately, UBS Group lifted their price target on shares of ABM Industries from $55.00 to $56.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th.

Hedge Funds Weigh In On ABM Industries

A number of institutional investors have recently modified their holdings of the business. Savant Capital LLC increased its holdings in shares of ABM Industries by 1.7% in the 4th quarter. Savant Capital LLC now owns 11,707 shares of the business services provider's stock valued at $599,000 after acquiring an additional 191 shares during the period. Adirondack Trust Co. increased its holdings in shares of ABM Industries by 28.6% in the 4th 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. Naples Global Advisors LLC increased its holdings in shares of ABM Industries by 2.3% in the 4th quarter. Naples Global Advisors LLC now owns 11,038 shares of the business services provider's stock valued at $565,000 after acquiring an additional 253 shares during the period. CIBC Asset Management Inc increased its holdings in shares of ABM Industries by 4.8% in the 4th quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider's stock valued at $321,000 after acquiring an additional 289 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of ABM Industries by 5.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 6,615 shares of the business services provider's stock valued at $339,000 after acquiring an additional 329 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

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.