ABM Industries Inc. (ABM) Sets New 52-Week High at $38.08
ABM Industries Inc. (NYSE:ABM) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.08 and last traded at $38.07, with a volume of 26,475 shares trading hands. The stock had previously closed at $37.73.
A number of research analysts have issued reports on the company. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. Imperial Capital upped their price objective on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. ABM Industries currently has a consensus rating of “Hold” and a consensus price target of C$27.30.
The stock has a market cap of $2.13 billion and a PE ratio of 37.23. The company’s 50-day moving average price is $36.93 and its 200 day moving average price is $33.53.
ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, June 8th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The firm earned $1.26 billion during the quarter. During the same period in the previous year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts forecast that ABM Industries Inc. will post $1.60 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Thursday, July 7th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.73%.
In other ABM Industries news, EVP Sarah H. Mcconnell sold 10,400 shares of ABM Industries stock in a transaction on Monday, June 13th. The stock was sold at an average price of C$37.03, for a total transaction of C$385,112.00. Following the completion of the transaction, the executive vice president now owns 76,666 shares in the company, valued at C$2,838,941.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott J. Giacobbe sold 5,000 shares of ABM Industries stock in a transaction on Friday, July 15th. The shares were sold at an average price of C$36.86, for a total value of C$184,300.00. Following the transaction, the insider now owns 37,807 shares of the company’s stock, valued at approximately C$1,393,566.02. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in the stock. Comerica Bank boosted its position in shares of ABM Industries by 1.4% in the fourth quarter. Comerica Bank now owns 57,590 shares of the company’s stock worth $1,531,000 after buying an additional 797 shares during the last quarter. Suntrust Banks Inc. boosted its position in shares of ABM Industries by 8.2% in the fourth quarter. Suntrust Banks Inc. now owns 75,110 shares of the company’s stock worth $2,138,000 after buying an additional 5,701 shares during the last quarter. State of Tennessee Treasury Department boosted its position in shares of ABM Industries by 112.6% in the fourth quarter. State of Tennessee Treasury Department now owns 81,640 shares of the company’s stock worth $2,324,000 after buying an additional 43,240 shares during the last quarter. Trexquant Investment LP boosted its position in shares of ABM Industries by 394.1% in the fourth quarter. Trexquant Investment LP now owns 84,000 shares of the company’s stock worth $2,391,000 after buying an additional 67,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of ABM Industries by 12.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,042,772 shares of the company’s stock worth $86,629,000 after buying an additional 327,118 shares during the last quarter.
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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