Shares of ABM Industries Incorporated (NYSE:ABM – Get Free Report) reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $51.62 and last traded at $51.7460, with a volume of 11,262 shares trading hands. The stock had previously closed at $50.64.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of ABM Industries from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Truist Financial raised their target price on ABM Industries from $45.00 to $49.00 and gave the stock a “hold” rating in a research note on Monday, September 14th. Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. UBS Group boosted their price target on ABM Industries from $45.00 to $51.50 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Finally, Weiss Ratings raised ABM Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.88.
Read Our Latest Report on ABM Industries
ABM Industries Price Performance
ABM Industries (NYSE:ABM – Get Free Report) last issued its quarterly earnings data on Tuesday, September 8th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. ABM Industries had a net margin of 1.82% and a return on equity of 12.46%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. As a group, research analysts predict that ABM Industries Incorporated will post 4.00 EPS for the current year.
ABM Industries Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.16 annualized dividend and a dividend yield of 2.2%. ABM Industries’s payout ratio is currently 41.88%.
Hedge Funds Weigh In On ABM Industries
A number of institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new stake in ABM Industries during the 1st quarter valued at approximately $12,739,000. Quantinno Capital Management LP raised its position in shares of ABM Industries by 86.3% in the 1st quarter. Quantinno Capital Management LP now owns 54,790 shares of the business services provider’s stock worth $2,111,000 after acquiring an additional 25,388 shares in the last quarter. BlackRock Inc. bought a new position in shares of ABM Industries in the 2nd quarter worth approximately $410,948,000. Louisiana State Employees Retirement System bought a new position in shares of ABM Industries in the 1st quarter worth approximately $1,002,000. Finally, Invenomic Capital Management LP lifted its stake in shares of ABM Industries by 25.9% in the 4th quarter. Invenomic Capital Management LP now owns 629,452 shares of the business services provider’s stock valued at $26,626,000 after purchasing an additional 129,614 shares during the period. 91.62% of the stock is owned by institutional investors.
ABM Industries Company Profile
ABM Industries Incorporated (NYSE:ABM) is a provider of integrated facility and workplace solutions. The company helps organizations operate, maintain and improve their buildings and infrastructure through services that include janitorial and custodial work, facilities engineering, HVAC and mechanical services, parking and transportation management, security, landscaping, and energy and sustainability solutions.
ABM serves a broad range of end markets, including commercial real estate, aviation, education, healthcare, manufacturing, technology, government and sports and entertainment facilities.
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