In a recent transaction, Dean A. Chin, senior vice president and chief accounting officer ABM Industries Inc . (NYSE: ), a $3.3 billion company trading near a 52-week high, sold a significant portion of its stake in the company. According to InvestingPro According to the data, the stock is currently trading at a P/E ratio of 41x, while multiple analysts have recently revised their earnings expectations upwards. According to a filing with the Securities and Exchange Commission, Chin sold 4,281 shares of common stock on January 14, 2025. The shares were sold at a weighted average price of $52.3561, for a total transaction amounting to approximately $224,136.
After the transaction, Chin retains ownership of 18,681 shares of the company. The sale was made in multiple transactions at prices ranging from $52.25 to $52.42.
In other recent news, ABM Industries is making waves with its robust performance. The company recently reported better-than-expected fourth-quarter results, posting adjusted earnings per share of $0.90 and revenue growth of 4% year over year to $2.2 billion. That beat analysts’ estimates of $0.87 per share and revenue forecast of $2.07 billion. ABM’s performance was bolstered by a 35% year-over-year increase in technical solutions revenue and an 11% increase in aviation revenue.
Looking ahead, ABM forecasts adjusted earnings per share between $3.60 and $3.80 for fiscal 2025, beating the analyst consensus of $3.54. The company also expects an adjusted EBITDA margin in the range of 6.3% to 6.5%. Additionally, ABM announced an 18% quarterly dividend increase.
Meanwhile, analysts at Baird maintained a Neutral Rating on ABM Industries, acknowledging the company’s performance as “Rated Neutral, Gradual Positive.” Despite facing macroeconomic challenges, ABM Industries is effectively implementing its strategies, securing strong new contracts and recording a strong contribution from microgrid installation work in the technical solutions segment. The company suggests that ABM is well positioned to beat expectations and potentially raise forecasts as the year progresses.
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