UBS Group Cuts ABM Industries (NYSE:ABM) Price Target to $50.00

ABM Industries (NYSE:ABM) had its target price cut by UBS Group from $56.00 to $50.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

ABM Industries Trading Down 0.6 %

ABM Industries stock opened at $46.76 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50-day simple moving average of $52.36 and a 200 day simple moving average of $53.32. ABM Industries has a 52 week low of $42.28 and a 52 week high of $59.78. The stock has a market capitalization of $2.91 billion, a P/E ratio of 36.82, a PEG ratio of 2.75 and a beta of 1.13.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the business posted $1.01 earnings per share. ABM Industries’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that ABM Industries will post 3.71 earnings per share for the current year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries’s dividend payout ratio is 83.46%.

Insider Buying and Selling at ABM Industries

In related news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the transaction, the chief operating officer now owns 87,808 shares of the company’s stock, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the sale, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in shares of ABM Industries during the 4th quarter worth about $33,000. Adirondack Trust Co. boosted its holdings in ABM Industries by 28.6% in the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 595 shares during the period. Sterling Capital Management LLC increased its holdings in shares of ABM Industries by 834.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider’s stock valued at $104,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Quarry LP raised its position in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after purchasing an additional 721 shares during the period. 91.62% of the stock is owned by institutional investors.

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.