In a recent transaction, Dean A. Chin, the Senior Vice President and Chief Accounting Officer of ABM Industries Inc . (NYSE:ABM), a $3.3 billion facility services company trading near its 52-week high, sold a significant portion of his holdings in the company. According to InvestingPro data, the stock currently trades at a P/E ratio of 41x, while multiple analysts have recently revised their earnings expectations upward. 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, with the total transaction amounting to approximately $224,136.
Post-transaction, Chin retains ownership of 18,681 shares in the company. The sales were executed in multiple transactions at prices ranging from $52.25 to $52.42.
In other recent news, ABM Industries has been 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 a 4% YoY rise in revenue to $2.2 billion. This exceeded analysts' estimates of $0.87 per share and a revenue forecast of $2.07 billion. ABM's performance was bolstered by a 35% YoY surge in Technical Solutions revenue and an 11% increase in Aviation revenue.
Looking ahead, ABM anticipates adjusted earnings per share between $3.60 and $3.80 for fiscal 2025, which surpasses the analyst consensus of $3.54. The company also expects an adjusted EBITDA margin in the range of 6.3% to 6.5%. In addition, ABM announced an 18% increase to its quarterly dividend.
Meanwhile, Baird analysts maintained a Neutral rating on ABM Industries, acknowledging the company's performance as "Neutral-rated, incrementally positive." Despite facing macroeconomic challenges, ABM Industries has been effectively executing its strategies, securing strong new contracts, and seeing a robust contribution from microgrid installation work in the Technical Solutions segment. The firm suggests that ABM is well-positioned to exceed expectations and potentially raise forecasts as the year progresses.
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