ABM Industries (NYSE:ABM) Lowered to “Hold” Rating by Wall Street Zen

ABM Industries (NYSE:ABM) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, UBS Group cut their price objective on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th.

ABM Industries Stock Up 0.8%

ABM stock opened at $52.69 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. ABM Industries has a 52-week low of $40.85 and a 52-week high of $59.78. The company has a 50-day moving average of $48.66 and a two-hundred day moving average of $51.37. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 41.49, a price-to-earnings-growth ratio of 2.75 and a beta of 0.78.

Insider Activity

In related news, CEO Scott B. Salmirs sold 800 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $52.09, for a total value of $41,672.00. Following the completion of the transaction, the chief executive officer now owns 418,856 shares of the company’s stock, valued at $21,818,209.04. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sean Michael Mahoney sold 1,800 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the transaction, the executive vice president now directly owns 47,425 shares of the company’s stock, valued at $2,372,672.75. This trade represents a 3.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,374 shares of company stock valued at $2,733,303. Insiders own 0.90% of the company’s stock.

Institutional Trading of ABM Industries

Several large investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in ABM Industries during the first quarter worth about $1,004,000. Intech Investment Management LLC grew its stake in ABM Industries by 20.6% during the first quarter. Intech Investment Management LLC now owns 65,040 shares of the business services provider’s stock worth $3,080,000 after buying an additional 11,108 shares during the last quarter. Focus Partners Wealth bought a new stake in ABM Industries during the first quarter worth about $477,000. Jane Street Group LLC grew its stake in ABM Industries by 592.0% during the first quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider’s stock worth $6,640,000 after buying an additional 119,942 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in ABM Industries by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,038 shares of the business services provider’s stock worth $8,527,000 after buying an additional 8,704 shares during the last quarter. 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.