ABM Industries COO Sells Shares Worth Over Half a Million Dollars

Rene Jacobsen, the Chief Operating Officer of ABM Industries Incorporated (NYSE:ABM - Get Free Report), recently sold 10,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84 each, leading to a total transaction value of $528,400.00. Following this sale, Jacobsen now holds 87,808 shares of ABM Industries, which are valued at around $4,639,774.72. This transaction marks a 10.22% decrease in his ownership of the company's stock. The details of this sale were made public through an official filing with the SEC.

Current Stock Performance

On Tuesday, ABM Industries traded up by $0.28, bringing the stock price to $53.80 during mid-day trading. A total of 188,009 shares exchanged hands, which is below the average trading volume of 305,482 shares. The company's market capitalization stands at $3.35 billion, with a P/E ratio of 42.36 and a PEG ratio of 2.79, alongside a beta of 1.16. Financially, ABM Industries has a debt-to-equity ratio of 0.73, a quick ratio of 1.33, and a current ratio of 1.33. The stock has experienced a low of $39.64 and a high of $59.78 over the past year, with its fifty-day simple moving average at $53.00 and its two-hundred-day moving average at $53.66.

Recent Earnings and Dividend Increase

ABM Industries most recently reported its quarterly earnings on December 18th, where it announced earnings per share (EPS) of $0.90, surpassing the consensus estimate of $0.87 by $0.03. The firm achieved revenue of $2.18 billion during that quarter, also exceeding expectations of $2.08 billion. This represented a 4.0% increase in revenue compared to the same quarter last year. Analysts anticipate that ABM Industries will generate an EPS of 3.71 for the current fiscal year.

Furthermore, the company recently declared a quarterly dividend that was paid out on February 3rd. The dividend of $0.265 per share reflects an increase from the previous dividend of $0.23. The annualized dividend now stands at $1.06, yielding 1.97%. ABM Industries has a dividend payout ratio of 83.47%.

Analysts' Perspectives and Institutional Activity

Analysts have been reviewing ABM Industries, with UBS Group recently raising their price target from $55.00 to $56.00, maintaining a "neutral" rating. Institutional investors have shown interest in ABM Industries, with several hedge funds adjusting their positions in recent months. Notably, Capital Performance Advisors LLP initiated a new position worth approximately $30,000 during the third quarter, while Smartleaf Asset Management LLC increased its stake by 193.2%, now holding 903 shares valued at $46,000.

About ABM Industries

ABM Industries Incorporated offers integrated facility, infrastructure, and mobility solutions both in the United States and internationally, operating through various segments, including Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions.

ABM, Industry, Stock