Segall Bryant & Hamill LLC Has $3.72 Million Position in ABM Industries Incorporated $ABM

Segall Bryant & Hamill LLC lessened its position in ABM Industries Incorporated (NYSE:ABM) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,737 shares of the business services provider’s stock after selling 5,146 shares during the period. Segall Bryant & Hamill LLC owned about 0.13% of ABM Industries worth $3,717,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in ABM Industries by 26.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 16,141 shares of the business services provider’s stock valued at $764,000 after purchasing an additional 3,340 shares during the last quarter. Cetera Investment Advisers raised its stake in ABM Industries by 6.3% in the first quarter. Cetera Investment Advisers now owns 7,264 shares of the business services provider’s stock valued at $344,000 after buying an additional 430 shares during the period. Federated Hermes Inc. lifted its position in shares of ABM Industries by 107.7% in the first quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock valued at $44,000 after buying an additional 477 shares during the last quarter. Goodman Financial Corp boosted its stake in shares of ABM Industries by 1.4% during the 1st quarter. Goodman Financial Corp now owns 280,936 shares of the business services provider’s stock worth $13,305,000 after acquiring an additional 3,889 shares during the period. Finally, US Bancorp DE boosted its stake in shares of ABM Industries by 3,410.5% during the 1st quarter. US Bancorp DE now owns 4,353 shares of the business services provider’s stock worth $206,000 after acquiring an additional 4,229 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ABM shares. Robert W. Baird restated a “neutral” rating and issued a $54.00 price target (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 research note on Saturday, October 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th. Finally, UBS Group increased their price target on shares of ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, ABM Industries presently has an average rating of “Hold” and a consensus target price of $55.67.

ABM Industries Stock Performance

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. ABM Industries Incorporated has a 12-month low of $40.00 and a 12-month high of $58.18. The company has a market capitalization of $2.57 billion, a P/E ratio of 22.85 and a beta of 0.76. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.82.

ABM Industries (NYSE:ABM) last released its quarterly earnings results 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 business had revenue of $2.22 billion during 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 firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 earnings per share. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Announces Dividend

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

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

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.