Segall Bryant & Hamill LLC Sells 5,146 Shares of ABM Industries Incorporated $ABM

Segall Bryant & Hamill LLC trimmed its position in ABM Industries Incorporated (NYSE:ABM) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,737 shares of the business services provider’s stock after selling 5,146 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in ABM Industries were worth $3,717,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of ABM Industries in the 1st quarter valued at $38,000. Federated Hermes Inc. lifted its position in shares of ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock worth $44,000 after buying an additional 477 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in ABM Industries in the first quarter valued at about $45,000. Kiker Wealth Management LLC bought a new position in ABM Industries in the second quarter valued at about $61,000. Finally, Virtus Advisers LLC bought a new position in ABM Industries in the first quarter valued at about $64,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABM has been the subject of a number of research reports. UBS Group increased their target price 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. Robert W. Baird reissued a “neutral” rating and issued a $54.00 price objective (down previously from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Baird R W lowered shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Wall Street Zen upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.67.

ABM Industries Trading Down 0.4%

Shares of NYSE ABM opened at $42.04 on Tuesday. The firm has a 50 day moving average price of $44.22 and a two-hundred day moving average price of $46.88. The stock has a market cap of $2.57 billion, a P/E ratio of 22.85 and a beta of 0.76. ABM Industries Incorporated has a 52-week low of $40.00 and a 52-week high of $58.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 1.49.

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

ABM Industries declared that its board has approved a share buyback program on Friday, September 5th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 2nd. This represents a $1.06 annualized dividend and a dividend yield of 2.5%. ABM Industries’s dividend payout ratio is presently 57.61%.

About ABM Industries

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.