MQS Management LLC Invests $231,000 in ABM Industries Incorporated $ABM

MQS Management LLC acquired a new stake in shares of ABM Industries Incorporated (NYSE:ABM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,885 shares of the business services provider’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABM. Principal Financial Group Inc. increased its stake in ABM Industries by 1.7% in the first quarter. Principal Financial Group Inc. now owns 347,496 shares of the business services provider’s stock worth $16,457,000 after purchasing an additional 5,880 shares during the period. Intech Investment Management LLC increased its stake in ABM Industries by 20.6% in the first quarter. Intech Investment Management LLC now owns 65,040 shares of the business services provider’s stock worth $3,080,000 after purchasing an additional 11,108 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in ABM Industries by 12.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider’s stock worth $289,000 after purchasing an additional 693 shares during the period. Nordea Investment Management AB purchased a new stake in ABM Industries in the second quarter worth $6,380,000. Finally, Victory Capital Management Inc. increased its stake in ABM Industries by 28.5% in the first quarter. Victory Capital Management Inc. now owns 175,453 shares of the business services provider’s stock worth $8,309,000 after purchasing an additional 38,959 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Analyst Upgrades and Downgrades

ABM has been the topic of a number of recent analyst reports. Truist Financial upgraded ABM Industries from a “hold” rating to a “buy” rating and increased their target price for the stock from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Wall Street Zen upgraded 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 reiterated a “neutral” rating and issued a $54.00 target price (down from $56.00) on shares of ABM Industries in a report on Monday, September 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ABM Industries in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, ABM Industries presently has a consensus rating of “Hold” and a consensus target price of $55.67.

ABM Industries Trading Down 0.5%

Shares of NYSE ABM opened at $45.45 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. The stock has a market capitalization of $2.78 billion, a P/E ratio of 24.70 and a beta of 0.78. ABM Industries Incorporated has a 1-year low of $40.85 and a 1-year high of $59.15. The business has a fifty day moving average price of $46.47 and a 200 day moving average price of $47.66.

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 analysts’ consensus estimates of $0.95 by ($0.13). The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 earnings per share. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Equities research analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries declared that its Board of Directors has initiated a stock buyback plan on Friday, September 5th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 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.