Bleakley Financial Group LLC Buys 5,973 Shares of ABM Industries Incorporated $ABM

Bleakley Financial Group LLC increased its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 49.4% in the 2nd 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 buying an additional 5,973 shares during the quarter. Bleakley Financial Group LLC’s holdings in ABM Industries were worth $853,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Invesco Ltd. raised its stake in ABM Industries by 17.8% during the first quarter. Invesco Ltd. now owns 1,786,926 shares of the business services provider’s stock worth $84,629,000 after acquiring an additional 269,410 shares in the last quarter. American Century Companies Inc. increased its position in shares of ABM Industries by 34.4% during the 1st quarter. American Century Companies Inc. now owns 1,590,497 shares of the business services provider’s stock worth $75,326,000 after purchasing an additional 406,802 shares in the last quarter. LSV Asset Management lifted its holdings in ABM Industries by 66.4% during the 1st quarter. LSV Asset Management now owns 1,386,172 shares of the business services provider’s stock valued at $65,649,000 after purchasing an additional 553,225 shares during the last quarter. Pzena Investment Management LLC boosted its position in ABM Industries by 13.5% in the second quarter. Pzena Investment Management LLC now owns 963,943 shares of the business services provider’s stock valued at $45,508,000 after buying an additional 114,485 shares in the last quarter. Finally, Boston Partners grew 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 worth $30,367,000 after buying an additional 612,586 shares during the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Stock Up 0.4%

Shares of ABM opened at $45.67 on Friday. The business’s fifty day moving average price is $46.52 and its two-hundred day moving average price is $47.64. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 24.82 and a beta of 0.78. ABM Industries Incorporated has a 52 week low of $40.85 and a 52 week high of $59.15. 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 results on Friday, September 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.13). The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.94 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. On average, analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Announces Dividend

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

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

Analyst Ratings Changes

ABM has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Baird R W cut ABM Industries from a “strong-buy” rating to a “hold” 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. Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a report on Friday. Finally, Truist Financial upgraded ABM Industries from a “hold” rating to a “buy” rating and raised their target price for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.67.

ABM Industries Company 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.