Inspire Investing LLC Grows Position in ABM Industries Incorporated $ABM

Inspire Investing LLC increased its position in ABM Industries Incorporated (NYSE:ABM) by 14.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,318 shares of the business services provider’s stock after purchasing an additional 1,079 shares during the quarter. Inspire Investing LLC’s holdings in ABM Industries were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of ABM Industries by 17.8% in the 1st quarter. Invesco Ltd. now owns 1,786,926 shares of the business services provider’s stock valued at $84,629,000 after purchasing an additional 269,410 shares during the period. American Century Companies Inc. lifted its stake in shares of ABM Industries by 34.4% in the 1st quarter. American Century Companies Inc. now owns 1,590,497 shares of the business services provider’s stock valued at $75,326,000 after purchasing an additional 406,802 shares during the period. LSV Asset Management raised its stake in ABM Industries by 66.4% during the first quarter. LSV Asset Management now owns 1,386,172 shares of the business services provider’s stock valued at $65,649,000 after buying an additional 553,225 shares during the last quarter. Boston Partners raised its stake in ABM Industries by 2,129.6% during the first quarter. Boston Partners now owns 641,351 shares of the business services provider’s stock valued at $30,367,000 after buying an additional 612,586 shares during the last quarter. Finally, Nuveen LLC purchased a new position in ABM Industries during the first quarter valued at $24,941,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Trading Up 1.3%

ABM Industries stock opened at $45.04 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. ABM Industries Incorporated has a one year low of $40.85 and a one year high of $59.15. The stock has a market capitalization of $2.76 billion, a PE ratio of 24.48 and a beta of 0.78. The business’s fifty day moving average is $47.00 and its 200 day moving average is $47.67.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, September 5th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.13). ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business earned $0.94 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. On average, sell-side analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries announced that its Board of Directors has approved a stock buyback program on Friday, September 5th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the business services provider to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 2nd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.06 annualized dividend and a dividend yield of 2.4%. ABM Industries’s dividend payout ratio (DPR) is 57.61%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th. UBS Group lifted their price objective on ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Baird R W cut ABM Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Robert W. Baird reiterated a “neutral” rating and set a $54.00 price objective (down previously from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Finally, Truist Financial upgraded ABM Industries from a “hold” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.67.

ABM Industries Profile

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.