ABM Industries (NYSE:ABM) Price Target Raised to $56.00

ABM Industries (NYSE:ABM) had its price target boosted by UBS Group from $55.00 to $56.00 in a research report released on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the business services provider’s stock.

ABM has been the subject of several other reports. Truist Financial raised their target price on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th. Robert W. Baird raised their price objective on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, September 9th.

ABM Industries Stock Performance

Shares of ABM opened at $50.34 on Thursday. ABM Industries has a 1 year low of $39.64 and a 1 year high of $59.78. The stock has a market capitalization of $3.16 billion, a P/E ratio of 20.80 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The company’s fifty day moving average is $55.30 and its two-hundred day moving average is $53.38.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. ABM Industries’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. On average, sell-side analysts predict that ABM Industries will post 3.53 earnings per share for the current year.

ABM Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be given a $0.265 dividend. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, January 2nd. ABM Industries’s dividend payout ratio (DPR) is currently 83.46%.

Insider Transactions at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the sale, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On ABM Industries

Several large investors have recently made changes to their positions in the business. BOKF NA purchased a new position in ABM Industries in the 2nd quarter worth about $30,000. Capital Performance Advisors LLP acquired a new position in shares of ABM Industries in the third quarter worth about $30,000. Copeland Capital Management LLC purchased a new position in shares of ABM Industries in the third quarter worth approximately $37,000. GAMMA Investing LLC raised its holdings in shares of ABM Industries by 58.8% during the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 589 shares during the period. Finally, Quarry LP lifted its position in shares of ABM Industries by 49.7% in the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock valued at $115,000 after acquiring an additional 721 shares in the last quarter. Institutional investors own 91.62% of the company’s stock.

ABM Industries Company Profile

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.