ABM Industries Incorporated $ABM Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 11.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 274,185 shares of the business services provider's stock after acquiring an additional 29,049 shares during the period. Allianz Asset Management GmbH owned approximately 0.44% of ABM Industries worth $12,944,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kiker Wealth Management LLC purchased a new stake in shares of ABM Industries during the second quarter valued at approximately $61,000. Verdence Capital Advisors LLC grew its holdings in ABM Industries by 3.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 10,388 shares of the business services provider's stock valued at $490,000 after purchasing an additional 376 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in ABM Industries during the 2nd quarter worth $394,000. Pzena Investment Management LLC lifted its holdings in ABM Industries by 13.5% in the 2nd quarter. Pzena Investment Management LLC now owns 963,943 shares of the business services provider's stock worth $45,508,000 after buying an additional 114,485 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in ABM Industries by 14.9% in the 2nd quarter. Inspire Investing LLC now owns 8,318 shares of the business services provider's stock worth $393,000 after buying an additional 1,079 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company's stock.

Wall Street Analyst Weigh In

ABM has been the subject of several recent analyst reports. Robert W. Baird restated a "neutral" rating and set a $54.00 target price (down from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Baird R W lowered ABM Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Weiss Ratings restated a "hold (c)" rating on shares of ABM Industries in a report on Wednesday, October 8th. UBS Group increased their target price on ABM Industries from $54.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Finally, Wall Street Zen raised shares of ABM Industries from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $55.67.

ABM Industries Trading Up 1.0%

NYSE:ABM opened at $45.50 on Tuesday. The company has a market cap of $2.79 billion, a PE ratio of 24.73 and a beta of 0.78. The business's 50 day moving average is $46.78 and its two-hundred day moving average is $47.59. 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 Incorporated has a 52 week low of $40.85 and a 52 week high of $59.15.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings data 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). ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the business earned $0.94 earnings per share. The business'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. On average, analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Announces Dividend

The firm 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. The ex-dividend date is Thursday, October 2nd. This represents a $1.06 annualized dividend and a yield of 2.3%. ABM Industries's dividend payout ratio is 57.61%.

ABM Industries declared that its Board of Directors 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 purchase up to 5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is 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.

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