EMC Capital Management Acquires New Stake in ABM Industries Incorporated $ABM

EMC Capital Management acquired a new stake in ABM Industries Incorporated (NYSE:ABM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,732 shares of the business services provider’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. LSV Asset Management grew its holdings in shares of ABM Industries by 1.2% in the second quarter. LSV Asset Management now owns 1,402,702 shares of the business services provider’s stock worth $66,222,000 after purchasing an additional 16,530 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in ABM Industries by 5.7% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 165,964 shares of the business services provider’s stock valued at $7,835,000 after buying an additional 8,975 shares during the period. Intech Investment Management LLC boosted its position in ABM Industries by 11.2% in the 2nd quarter. Intech Investment Management LLC now owns 72,308 shares of the business services provider’s stock valued at $3,414,000 after buying an additional 7,268 shares during the period. SG Capital Management LLC bought a new position in ABM Industries in the 2nd quarter worth about $29,064,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of ABM Industries by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,977 shares of the business services provider’s stock worth $754,000 after acquiring an additional 1,091 shares during the period. 91.62% of the stock is currently owned by institutional investors.

ABM Industries Trading Up 0.6%

Shares of NYSE:ABM opened at $40.56 on Wednesday. The company has a market capitalization of $2.48 billion, a PE ratio of 22.04 and a beta of 0.76. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. ABM Industries Incorporated has a 12-month low of $40.24 and a 12-month high of $58.18. The business’s fifty day simple moving average is $44.57 and its 200-day simple moving average is $47.12.

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). ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company earned $0.94 earnings per share. The company’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, equities research analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries declared that its board has approved a stock repurchase program on Friday, September 5th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the business services provider to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, October 2nd. ABM Industries’s dividend payout ratio (DPR) is currently 57.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABM. Robert W. Baird reiterated a “neutral” rating and issued a $54.00 price target (down previously from $56.00) on shares of ABM Industries in a report on Monday, September 8th. UBS Group lifted their target price on ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Wall Street Zen upgraded ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Baird R W downgraded ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.67.

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.