ABM Industries Incorporated (NYSE:ABM) Plans Quarterly Dividend of $0.23

ABM Industries Incorporated (NYSE:ABMGet Free Report) declared a quarterly dividend on Thursday, March 7th, Zacks reports. Stockholders of record on Thursday, April 4th will be paid a dividend of 0.225 per share by the business services provider on Monday, May 6th. This represents a $0.90 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, April 3rd.

ABM Industries has raised its dividend by an average of 6.0% per year over the last three years and has increased its dividend every year for the last 57 years. ABM Industries has a dividend payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ABM Industries to earn $3.54 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 25.4%.

ABM Industries Stock Up 0.5 %

NYSE:ABM opened at $44.62 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48. ABM Industries has a 1-year low of $37.61 and a 1-year high of $53.05. The company has a 50-day moving average of $41.79 and a 200 day moving average of $41.95. The firm has a market cap of $2.82 billion, a PE ratio of 11.41 and a beta of 1.15.

ABM Industries (NYSE:ABMGet Free Report) last announced its quarterly earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.01 billion. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. As a group, research analysts anticipate that ABM Industries will post 3.37 EPS for the current fiscal year.

Analysts Set New Price Targets

ABM has been the topic of several analyst reports. Truist Financial lifted their target price on ABM Industries from $43.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, December 14th. StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.20.

Check Out Our Latest Stock Analysis on ABM

Insider Activity

In related news, COO Rene Jacobsen sold 5,563 shares of ABM Industries stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now directly owns 111,677 shares in the company, valued at approximately $4,868,000.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Rene Jacobsen sold 5,563 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the transaction, the chief operating officer now directly owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of ABM Industries stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now directly owns 19,972 shares of the company’s stock, valued at approximately $896,543.08. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On ABM Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi acquired a new stake in ABM Industries during the 4th quarter valued at approximately $36,000. Point72 Asset Management L.P. acquired a new position in ABM Industries during the second quarter valued at $46,000. Quarry LP purchased a new stake in ABM Industries in the second quarter valued at $64,000. Neo Ivy Capital Management acquired a new stake in ABM Industries during the 2nd quarter worth about $123,000. Finally, Lazard Asset Management LLC grew its position in ABM Industries by 57.2% during the 4th quarter. Lazard Asset Management LLC now owns 3,874 shares of the business services provider’s stock worth $172,000 after purchasing an additional 1,409 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

About ABM Industries

(Get Free Report)

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.

Further Reading

Dividend History for ABM Industries (NYSE:ABM)

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