ABM Industries Incorporated (NYSE:ABM) Given Average Rating of “Hold” by Brokerages

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

ABM has been the topic of a number of analyst reports. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group upped their price target on ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Finally, Robert W. Baird upped their price target on ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, June 10th.

Insider Transactions at ABM Industries

In other news, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the sale, the chief executive officer now owns 378,391 shares in the company, valued at $18,503,319.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total value of $1,222,500.00. Following the transaction, the chief executive officer now owns 378,391 shares in the company, valued at $18,503,319.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.70, for a total value of $103,529.40. Following the completion of the transaction, the chief accounting officer now owns 18,493 shares in the company, valued at approximately $937,595.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,778 shares of company stock worth $4,039,248. Insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On ABM Industries

Several hedge funds have recently added to or reduced their stakes in ABM. GAMMA Investing LLC lifted its stake in ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after buying an additional 273 shares during the period. SummerHaven Investment Management LLC lifted its stake in ABM Industries by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock valued at $891,000 after buying an additional 324 shares during the period. Daiwa Securities Group Inc. lifted its stake in ABM Industries by 8.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,381 shares of the business services provider’s stock valued at $241,000 after buying an additional 439 shares during the period. Adirondack Trust Co. lifted its stake in ABM Industries by 250.0% in the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after buying an additional 500 shares during the period. Finally, SRS Capital Advisors Inc. lifted its stake in ABM Industries by 323.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock valued at $30,000 after buying an additional 511 shares during the period. Institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $54.75 on Friday. The business has a fifty day simple moving average of $50.88 and a 200 day simple moving average of $45.80. 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 capitalization of $3.44 billion, a price-to-earnings ratio of 14.33 and a beta of 1.16. ABM Industries has a one year low of $37.61 and a one year high of $56.30.

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

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, July 5th. ABM Industries’s 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.