Shares of ABM Industries, Inc. (NYSE:ABM) have been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $40.46.
A number of analysts recently issued reports on ABM shares. KeyCorp started coverage on ABM Industries in a research report on Friday, April 5th. They issued a “sector weight” rating and a $36.83 price target for the company. ValuEngine upgraded ABM Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 7th. Zacks Investment Research upgraded ABM Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Maxim Group set a $45.00 price target on ABM Industries and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Robert W. Baird set a $37.00 price target on ABM Industries and gave the stock a “hold” rating in a research report on Thursday, March 7th.
Shares of NYSE ABM traded up $0.24 during midday trading on Monday, reaching $40.00. 407,991 shares of the stock traded hands, compared to its average volume of 483,350. 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 company has a market capitalization of $2.67 billion, a PE ratio of 21.16 and a beta of 0.59. ABM Industries has a one year low of $25.64 and a one year high of $41.33. The stock has a 50 day moving average of $37.85.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.80%. ABM Industries’s payout ratio is 38.10%.
In other ABM Industries news, CAO Dean A. Chin sold 8,758 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $37.53, for a total value of $328,687.74. Following the sale, the chief accounting officer now owns 28,644 shares in the company, valued at $1,075,009.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott B. Salmirs sold 10,971 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $37.50, for a total value of $411,412.50. Following the completion of the sale, the insider now owns 157,091 shares in the company, valued at approximately $5,890,912.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,872 shares of company stock worth $1,003,677. Insiders own 0.94% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Qtron Investments LLC purchased a new position in ABM Industries during the first quarter valued at approximately $269,000. Citigroup Inc. raised its position in ABM Industries by 118.2% during the first quarter. Citigroup Inc. now owns 53,928 shares of the business services provider’s stock valued at $1,960,000 after acquiring an additional 29,212 shares in the last quarter. GAM Holding AG purchased a new position in ABM Industries during the first quarter valued at approximately $203,000. Cutler Group LP purchased a new position in ABM Industries during the first quarter valued at approximately $47,000. Finally, Walthausen & Co. LLC raised its position in ABM Industries by 20.1% during the first quarter. Walthausen & Co. LLC now owns 383,983 shares of the business services provider’s stock valued at $13,958,000 after acquiring an additional 64,260 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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