ABM Industries COO Sells $528,400 in Stock

Rene Jacobsen, the Chief Operating Officer of ABM Industries Incorporated (NYSE:ABM), recently sold 10,000 shares of the company’s stock on February 3rd. This sale was executed at an average price of $52.84 per share, totaling approximately $528,400.00. Following this transaction, Jacobsen now holds 87,808 shares, which are worth about $4,639,774.72. This sale marks a notable 10.22% decrease in his ownership in the company.

The transaction was formally reported in a document submitted to the SEC, which can be reviewed on their official site.

ABM Industries Stock Overview

During trading on Tuesday, ABM Industries shares experienced a slight increase, rising $0.28 to reach $53.80, with a total of 188,009 shares changing hands, compared to the average trading volume of 305,482 shares. The company boasts a market capitalization of $3.35 billion, with a price-to-earnings (P/E) ratio of 42.36, and a PEG ratio of 2.79. Its beta stands at 1.16, while the debt-to-equity ratio is recorded at 0.73. The current and quick ratios are both at 1.33, highlighting solid liquidity. Over the past twelve months, shares of ABM have recorded a low of $39.64 and a high of $59.78. The stock's fifty-day moving average is $53.00, while the two-hundred-day average is $53.66.

Recent Earnings Report

ABM Industries released its latest quarterly earnings figures on December 18th, revealing earnings per share of $0.90, surpassing analysts' expectations of $0.87 by $0.03. The total revenue for the quarter was $2.18 billion, exceeding the anticipated $2.08 billion. The company's return on equity was reported at 12.48%, with a net margin of 0.97%. This quarter's revenue reflects a 4.0% increase compared to the same quarter the previous year when revenue contributed to an EPS of $1.01. Looking ahead, analysts project that ABM Industries will report an EPS of 3.71 for the current fiscal year.

Dividend Increase

Another recent development revealed that ABM Industries has declared an increase in its quarterly dividend. On February 3rd, a dividend of $0.265 was distributed to shareholders who were on record as of January 2nd, marking an increase from the previously paid dividend of $0.23. The addition of this dividend brings the annualized payout to $1.06, resulting in a yield of 1.97%. The dividend payout ratio for ABM Industries is currently at 83.47%.

Market Analysts' Views

In a separate update, UBS Group has adjusted its price target for ABM Industries, increasing it from $55.00 to $56.00, while maintaining a “neutral” rating on the stock, as seen in their research note dated December 19th.

Institutional Investment Activity

Recent data also indicates that hedge funds and other institutional investors have been modifying their positions in ABM Industries stock. For instance, Capital Performance Advisors LLP took a new stake in the company during the third quarter worth around $30,000. Similarly, SBI Securities Co. Ltd. and Copeland Capital Management LLC initiated positions going into the fourth quarter, valued at $33,000 and $37,000 respectively. Notably, Adirondack Trust Co. increased its position by 28.6% during the fourth quarter, ending up with 900 shares valued at $46,000. Currently, institutional investors and hedge funds hold approximately 91.62% of the company's stock.

About ABM Industries

ABM Industries Incorporated, through its subsidiaries, provides a range of integrated facility services, infrastructure solutions, and mobility services, both in the United States and internationally. The company operates through multiple segments including Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions.

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