ABM Industries (NYSE:ABM) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of ABM Industries (NYSE:ABM – Get Rating) in a research report released on Thursday. The firm issued a hold rating on the business services provider’s stock.

Separately, Robert W. Baird downgraded ABM Industries from an outperform rating to a neutral rating and lowered their price objective for the stock from $52.00 to $51.00 in a research note on Thursday, March 9th.

ABM Industries Price Performance

Shares of ABM opened at $43.73 on Thursday. The company has a market cap of $2.89 billion, a P/E ratio of 15.18 and a beta of 1.12. The stock has a fifty day moving average price of $46.83 and a 200 day moving average price of $44.67. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.30 and a quick ratio of 1.30. ABM Industries has a 12 month low of $37.68 and a 12 month high of $54.00.

ABM Industries (NYSE:ABM – Get Rating) last issued its quarterly earnings data on Wednesday, March 8th. The business services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.02 billion. ABM Industries had a return on equity of 13.85% and a net margin of 2.45%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. On average, research analysts forecast that ABM Industries will post 3.5 earnings per share for the current year.

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Thursday, April 6th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, April 5th. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. ABM Industries’s dividend payout ratio (DPR) is presently 30.56%.

Insiders Place Their Bets

In other ABM Industries news, CAO Dean A. Chin sold 2,520 shares of the business’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $45.92, for a total transaction of $115,718.40. Following the completion of the transaction, the chief accounting officer now owns 22,533 shares in the company, valued at approximately $1,034,715.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Dean A. Chin sold 2,815 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $47.86, for a total value of $134,725.90. Following the completion of the sale, the chief accounting officer now owns 19,735 shares in the company, valued at $944,517.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dean A. Chin sold 2,520 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $45.92, for a total value of $115,718.40. Following the completion of the sale, the chief accounting officer now owns 22,533 shares of the company’s stock, valued at approximately $1,034,715.36. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Institutional Trading of ABM Industries

Institutional investors have recently modified their holdings of the company. Amundi acquired a new stake in shares of ABM Industries in the fourth quarter valued at $36,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of ABM Industries in the second quarter valued at $38,000. Quadrant Capital Group LLC lifted its holdings in shares of ABM Industries by 129.1% in the fourth quarter. Quadrant Capital Group LLC now owns 914 shares of the business services provider’s stock valued at $41,000 after buying an additional 515 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in shares of ABM Industries in the third quarter valued at $38,000. Finally, Private Trust Co. NA acquired a new stake in shares of ABM Industries in the third quarter valued at $43,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

ABM Industries Company Profile

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ABM Industries, Inc engages in the provision of facility, infrastructure, and mobility solutions. It operates through the following segments: Business and Industry, Manufacturing and Distribution, Education, Aviation, and Technical Solutions. The Business and Industry segment encompasses janitorial, facilities engineering, and parking services for commercial real estate properties, sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities.