Insider Sale: EVP & COO Rene Jacobsen Sells 40,000 Shares of ABM Industries Inc (ABM)
On July 15, 2024, Rene Jacobsen, Executive Vice President and Chief Operating Officer of ABM Industries Inc (NYSE:ABM), sold 40,000 shares of the company at a price of $51.67 per share. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 72,062 shares of ABM Industries Inc.
ABM Industries Inc is a leading provider of facility solutions with revenues of approximately $6.5 billion and over 140,000 employees in 350+ offices deployed throughout the United States and various international locations. ABMs comprehensive capabilities include janitorial, electrical & lighting, energy solutions, facilities engineering, HVAC & mechanical, landscape & turf, mission critical solutions, and parking, provided through stand-alone or integrated solutions.
Over the past year, Rene Jacobsen has sold a total of 58,245 shares and has not purchased any shares. This recent transaction follows a pattern observed over the past year, where there have been 10 insider sells and no insider buys at ABM Industries Inc.
The stock of ABM Industries Inc was trading at $51.67 on the day of the sale, giving the company a market cap of $3.322 billion. The price-earnings ratio of the company stands at 13.86, which is lower than the industry median of 17.72 and also below the companys historical median.
According to the GF Value, the intrinsic value of ABM Industries Inc is estimated at $50.62, making the stock Fairly Valued with a price-to-GF-Value ratio of 1.02.
The GF Value is calculated based on historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the companys past performance and estimated future business outcomes.
This insider sale might interest investors tracking insider behaviors as an indicator of the companys future performance or stock valuation adjustments. The transaction details and the companys valuation metrics provide a snapshot of ABM Industries Incs current financial position and market perception.
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