Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
Rene Jacobsen, Executive Vice President and Chief Operating Officer of ABM Industries Inc . (NYSE:ABM), recently sold shares of the company totaling $528,369. The transactions, which took place on February 3, 2025, involved the sale of 10,000 shares of common stock. The shares were sold at prices ranging between $52.6781 and $53.3778. The stock, currently trading near $53.90, has shown strong momentum with a 33.8% return over the past year. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
Following these transactions, Jacobsen holds 87,808 shares of ABM Industries. The sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks. With the company’s next earnings report scheduled for March 5, 2025, five analysts have recently revised their earnings estimates upward, suggesting positive momentum. InvestingPro subscribers can access additional insights and detailed analysis in the comprehensive Pro Research Report.
ABM Industries, headquartered in New York, provides a range of services to buildings, including maintenance and janitorial services. The $3.34 billion market cap company has maintained dividend payments for 55 consecutive years, with four consecutive years of dividend increases, demonstrating strong financial stability despite operating with relatively thin margins.
In other recent news, ABM Industries outperformed fourth quarter expectations and provided positive guidance for fiscal 2025. The company reported adjusted earnings per share of $0.90, surpassing analyst estimates of $0.87, and a revenue increase of 4% YoY to $2.2 billion, exceeding the consensus forecast of $2.07 billion. Notably, the Technical Solutions and Aviation segments drove 3.2% organic revenue growth, with the former showing a 35% YoY revenue surge, and the latter an 11% increase.
Simultaneously, Baird analysts maintained a Neutral rating on ABM Industries, acknowledging the company’s performance as "incrementally positive". Despite macroeconomic challenges, ABM Industries has been effective, particularly in the Technical Solutions segment, and secured strong new contracts. Baird has also initiated a new Fresh Pick-Bullish trading call on ABM Industries, indicating a positive short-term outlook.
For fiscal 2025, ABM projects adjusted earnings per share between $3.60 and $3.80, and an adjusted EBITDA margin in the range of 6.3% to 6.5%, both above analyst consensus. These recent developments reflect ABM’s resilience and potential for growth in the coming year.
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