ABM Industries Incorporated $ABM is Pflug Koory LLC’s 10th Largest Position

Pflug Koory LLC cut its stake in ABM Industries Incorporated (NYSE:ABM) by 0.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 60,039 shares of the business services provider’s stock after selling 350 shares during the quarter. ABM Industries makes up approximately 1.4% of Pflug Koory LLC’s portfolio, making the stock its 10th biggest holding. Pflug Koory LLC’s holdings in ABM Industries were worth $2,834,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings 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 valued at $16,457,000 after buying an additional 5,880 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of ABM Industries by 20.6% during the 1st 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of ABM Industries by 12.8% during the 1st 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 in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of ABM Industries by 3.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,736 shares of the business services provider’s stock worth $1,456,000 after purchasing an additional 910 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of ABM Industries by 28.5% during the 1st 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 in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial raised shares of ABM Industries from a “hold” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Baird R W cut shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Robert W. Baird reissued a “neutral” rating and set a $54.00 price objective (down from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Finally, UBS Group raised their price objective on shares of ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.67.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 17,250 shares of ABM Industries stock in a transaction on Monday, July 7th. The shares were sold at an average price of $48.03, for a total value of $828,517.50. Following the transaction, the chief operating officer owned 71,256 shares in the company, valued at $3,422,425.68. This trade represents a 19.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by company insiders.

ABM Industries Stock Up 0.3%

ABM stock opened at $46.59 on Friday. The stock has a market capitalization of $2.85 billion, a P/E ratio of 25.32 and a beta of 0.78. 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 Incorporated has a one year low of $40.85 and a one year high of $59.15. The company has a 50 day moving average price of $47.14 and a two-hundred day moving average price of $47.76.

ABM Industries (NYSE:ABM) last released its earnings results on Friday, September 5th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.13). The firm had revenue of $2.22 billion during 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 firm’s revenue was up 6.2% on a year-over-year basis. During the same period 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. As a group, sell-side analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 2nd will be issued a $0.265 dividend. 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 (DPR) is 57.61%.

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

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.