ABM Industries (NYSE:ABM) Price Target Raised to $55.00 at Truist Financial

ABM Industries (NYSE:ABM) had its price objective lifted by Truist Financial from $49.00 to $55.00 in a research report report published on Monday, Benzinga reports. Truist Financial currently has a hold rating on the business services provider’s stock.

Several other analysts also recently weighed in on ABM. StockNews.com downgraded shares of ABM Industries from a buy rating to a hold rating in a report on Friday, August 2nd. UBS Group lifted their target price on ABM Industries from $45.00 to $51.00 and gave the stock a neutral rating in a research report on Friday, June 7th. Finally, Robert W. Baird boosted their price target on ABM Industries from $49.00 to $56.00 and gave the company a neutral rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $53.50.

ABM Industries Trading Down 2.7 %

ABM Industries stock opened at $49.91 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries has a 12 month low of $38.48 and a 12 month high of $59.78. The company’s fifty day simple moving average is $53.52 and its 200-day simple moving average is $48.36. The stock has a market cap of $3.13 billion, a P/E ratio of 13.07 and a beta of 1.14.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, sell-side analysts forecast that ABM Industries will post 3.49 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Insider Buying and Selling at ABM Industries

In related news, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total value of $646,418.88. Following the transaction, the chief executive officer now directly owns 366,655 shares in the company, valued at $20,195,357.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Scott B. Salmirs sold 11,736 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the completion of the sale, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Rene Jacobsen sold 40,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the sale, the chief operating officer now owns 72,062 shares in the company, valued at $3,723,443.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,778 shares of company stock worth $4,039,248. Company insiders own 1.04% of the company’s stock.

Institutional Trading of ABM Industries

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in ABM Industries by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 634,363 shares of the business services provider’s stock valued at $28,438,000 after purchasing an additional 22,665 shares in the last quarter. Principal Securities Inc. bought a new stake in ABM Industries during the fourth quarter worth about $80,000. Teacher Retirement System of Texas boosted its position in ABM Industries by 133.6% during the fourth quarter. Teacher Retirement System of Texas now owns 11,940 shares of the business services provider’s stock valued at $535,000 after purchasing an additional 6,828 shares during the last quarter. BNP Paribas Financial Markets grew its stake in ABM Industries by 136.5% in the fourth quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock valued at $3,529,000 after purchasing an additional 45,442 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of ABM Industries during the 4th quarter worth approximately $1,030,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

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.