ABM Industries (ABM) Reaches New 12-Month High at $37.67

ABM Industries, Inc. (NYSE:ABM)’s share price hit a new 52-week high on Monday . The company traded as high as $37.67 and last traded at $37.46, with a volume of 3352 shares traded. The stock had previously closed at $37.42.

A number of brokerages recently weighed in on ABM. Zacks Investment Research upgraded shares of ABM Industries from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. CL King lowered shares of ABM Industries from a “buy” rating to a “neutral” rating in a report on Friday, January 11th. TheStreet upgraded shares of ABM Industries from a “c+” rating to a “b-” rating in a report on Wednesday, January 16th. Finally, Robert W. Baird set a $37.00 price objective on shares of ABM Industries and gave the stock a “hold” rating in a report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $40.46.

The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 19.84 and a beta of 0.56. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, March 6th. The business services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. ABM Industries had a net margin of 1.28% and a return on equity of 8.87%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. On average, analysts forecast that ABM Industries, Inc. will post 1.95 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.92%. ABM Industries’s dividend payout ratio is presently 38.10%.

In other ABM Industries news, COO Scott J. Giacobbe sold 7,143 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $36.90, for a total transaction of $263,576.70. Following the completion of the sale, the chief operating officer now directly owns 76,545 shares in the company, valued at approximately $2,824,510.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Rene Jacobsen sold 6,896 shares of the business’s stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $34.09, for a total transaction of $235,084.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,752 shares of company stock valued at $708,956. Company insiders own 0.94% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue grew its position in shares of ABM Industries by 1.4% during the 1st quarter. State of Alaska Department of Revenue now owns 22,315 shares of the business services provider’s stock valued at $811,000 after acquiring an additional 310 shares during the period. BMT Investment Advisors grew its position in shares of ABM Industries by 3.3% during the 1st quarter. BMT Investment Advisors now owns 63,074 shares of the business services provider’s stock valued at $2,293,000 after acquiring an additional 2,000 shares during the period. Liberty Wealth Management LLC bought a new stake in shares of ABM Industries during the 4th quarter valued at $288,000. Geode Capital Management LLC grew its position in shares of ABM Industries by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 700,426 shares of the business services provider’s stock valued at $22,490,000 after acquiring an additional 47,990 shares during the period. Finally, Norges Bank bought a new stake in shares of ABM Industries during the 4th quarter valued at $13,541,000.

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ABM Industries Company Profile (NYSE:ABM)

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

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