William Blair Initiates Coverage on ABM Industries (NYSE:ABM)
William Blair began coverage on shares of ABM Industries (NYSE:ABM) in a research note released on Thursday morning, BenzingaRatingsTable reports. The firm issued a market perform rating on the business services provider’s stock.
ABM has been the subject of several other reports. Maxim Group reiterated a buy rating and set a $50.00 target price on shares of ABM Industries in a research note on Friday, July 19th. Zacks Investment Research upgraded ABM Industries from a sell rating to a hold rating in a research note on Tuesday, May 7th. Finally, ValuEngine downgraded ABM Industries from a buy rating to a hold rating in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. ABM Industries has a consensus rating of Hold and an average price target of $41.71.
ABM stock opened at $38.53 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $40.78 and a two-hundred day moving average price of $37.80. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 20.39 and a beta of 0.62. ABM Industries has a twelve month low of $25.64 and a twelve month high of $42.67.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 5th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.87%. ABM Industries’s dividend payout ratio is currently 38.10%.
In other news, EVP Rene Jacobsen sold 1,500 shares of ABM Industries stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $39.84, for a total transaction of $59,760.00. Following the completion of the transaction, the executive vice president now directly owns 35,850 shares in the company, valued at approximately $1,428,264. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Chavez sold 6,000 shares of ABM Industries stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the transaction, the director now owns 21,070 shares of the company’s stock, valued at $842,800. The disclosure for this sale can be found here. Insiders have sold a total of 18,404 shares of company stock valued at $749,467 over the last quarter. 0.94% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC bought a new stake in shares of ABM Industries during the 2nd quarter valued at about $28,000. Valeo Financial Advisors LLC purchased a new stake in shares of ABM Industries in the second quarter worth approximately $41,000. Point72 Hong Kong Ltd bought a new position in shares of ABM Industries in the second quarter valued at approximately $48,000. Strs Ohio bought a new position in ABM Industries during the first quarter valued at $47,000. Finally, Cutler Group LP bought a new position in shares of ABM Industries in the first quarter worth $47,000.
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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