ABM Industries, Inc. (ABM) Receives Average Rating of “Hold” from Brokerages
ABM Industries, Inc. (NYSE:ABM) has been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $40.46.
A number of equities analysts have recently commented on ABM shares. Zacks Investment Research lowered ABM Industries from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Maxim Group started coverage on ABM Industries in a research note on Thursday, February 14th. They issued a “buy” rating and a $45.00 price objective on the stock. CL King lowered ABM Industries from a “buy” rating to a “neutral” rating in a research note on Friday, January 11th. TheStreet upgraded ABM Industries from a “c+” rating to a “b-” rating in a research note on Wednesday, January 16th. Finally, KeyCorp started coverage on ABM Industries in a research note on Friday, April 5th. They issued a “sector weight” rating and a $36.83 price objective on the stock.
NYSE ABM opened at $37.37 on Friday. ABM Industries has a fifty-two week low of $25.64 and a fifty-two week high of $37.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 19.77 and a beta of 0.56.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.93%. ABM Industries’s payout ratio is presently 38.10%.
In related news, CFO Diego Anthony Scaglione sold 2,856 shares of ABM Industries stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $37.31, for a total transaction of $106,557.36. Following the sale, the chief financial officer now directly owns 62,043 shares of the company’s stock, valued at $2,314,824.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Scott J. Giacobbe sold 7,143 shares of ABM Industries stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $36.90, for a total value of $263,576.70. Following the sale, the chief operating officer now directly owns 76,545 shares in the company, valued at $2,824,510.50. The disclosure for this sale can be found here. Insiders sold 12,856 shares of company stock worth $473,872 over the last quarter. 0.94% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ABM. Victory Capital Management Inc. acquired a new stake in ABM Industries during the fourth quarter worth about $53,401,000. Oregon Public Employees Retirement Fund acquired a new stake in ABM Industries during the fourth quarter worth about $25,000. Norges Bank acquired a new stake in ABM Industries during the fourth quarter worth about $13,541,000. Boston Partners boosted its holdings in ABM Industries by 60.0% during the fourth quarter. Boston Partners now owns 1,083,605 shares of the business services provider’s stock valued at $34,795,000 after purchasing an additional 406,334 shares in the last quarter. Finally, FMR LLC boosted its holdings in ABM Industries by 5.3% during the fourth quarter. FMR LLC now owns 7,221,374 shares of the business services provider’s stock valued at $231,878,000 after purchasing an additional 360,214 shares in the last quarter.
ABM Industries Company Profile
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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