Bleakley Financial Group LLC Has $853,000 Position in ABM Industries Incorporated $ABM

Bleakley Financial Group LLC lifted its position in ABM Industries Incorporated (NYSE:ABM) by 49.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,076 shares of the business services provider’s stock after acquiring an additional 5,973 shares during the period. Bleakley Financial Group LLC’s holdings in ABM Industries were worth $853,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. TrueMark Investments LLC bought a new stake in ABM Industries in the second quarter valued at approximately $822,000. Nordea Investment Management AB bought a new stake in shares of ABM Industries in the 2nd quarter valued at $6,380,000. Allianz Asset Management GmbH raised its stake in ABM Industries by 11.9% during the 2nd quarter. Allianz Asset Management GmbH now owns 274,185 shares of the business services provider’s stock worth $12,944,000 after buying an additional 29,049 shares during the period. Kiker Wealth Management LLC bought a new position in ABM Industries during the second quarter worth about $61,000. Finally, Verdence Capital Advisors LLC grew its stake in ABM Industries by 3.8% in the second quarter. Verdence Capital Advisors LLC now owns 10,388 shares of the business services provider’s stock valued at $490,000 after acquiring an additional 376 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

Analyst Upgrades and Downgrades

ABM has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ABM Industries in a research report on Friday. Robert W. Baird reissued a “neutral” rating and set a $54.00 target price (down from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Truist Financial upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $55.00 to $58.00 in a report on Wednesday, July 2nd. Wall Street Zen upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Finally, UBS Group raised their price objective on shares of ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ABM Industries has a consensus rating of “Hold” and a consensus price target of $55.67.

ABM Industries Trading Up 0.4%

NYSE:ABM opened at $45.67 on Friday. The company has a market cap of $2.80 billion, a P/E ratio of 24.82 and a beta of 0.78. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.15. The business has a 50 day moving average price of $46.52 and a two-hundred day moving average price of $47.64. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.82.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Friday, September 5th. The business services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. As a group, analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

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

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 2nd. ABM Industries’s dividend payout ratio is currently 57.61%.

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.