Russell Investments Group Ltd. Has $5.20 Million Position in ABM Industries Incorporated $ABM

Key Points

• Russell Investments Group Ltd. increased its stake in ABM Industries by 24.0%, owning 109,785 shares valued at approximately $5.2 million.
• ABM Industries reported earnings of $0.86 per share, missing estimates by $0.01, but revenue for the quarter was up 4.6% year-over-year, totaling $2.11 billion.
• The company recently announced a quarterly dividend of $0.265 per share, reflecting a 2.2% yield and a payout ratio of 85.48%.

Russell Investments Group Ltd. raised its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 24.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,785 shares of the business services provider's stock after buying an additional 21,223 shares during the quarter. Russell Investments Group Ltd. owned 0.18% of ABM Industries worth $5,199,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in ABM Industries by 1.8% in the 1st quarter. HighTower Advisors LLC now owns 20,398 shares of the business services provider's stock valued at $966,000 after buying an additional 362 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in ABM Industries by 26.1% in the 1st quarter. Public Sector Pension Investment Board now owns 197,248 shares of the business services provider's stock valued at $9,342,000 after buying an additional 40,832 shares in the last quarter. Nuveen LLC acquired a new position in ABM Industries in the 1st quarter valued at $24,941,000. Invesco Ltd. grew its holdings in ABM Industries by 17.8% in the 1st quarter. Invesco Ltd. now owns 1,786,926 shares of the business services provider's stock valued at $84,629,000 after buying an additional 269,410 shares in the last quarter. Finally, LSV Asset Management grew its holdings in ABM Industries by 66.4% in the 1st quarter. LSV Asset Management now owns 1,386,172 shares of the business services provider's stock valued at $65,649,000 after buying an additional 553,225 shares in the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ABM Industries

In related news, COO Rene Jacobsen sold 17,250 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $48.03, for a total transaction of $828,517.50. Following the completion of the sale, the chief operating officer directly owned 71,256 shares in the company, valued at $3,422,425.68. This represents a 19.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas M. Gartland sold 3,711 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.52, for a total value of $168,924.72. Following the completion of the transaction, the director directly owned 30,958 shares of the company's stock, valued at approximately $1,409,208.16. The trade was a 10.70% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

ABM Industries Price Performance

Shares of ABM stock traded up $0.79 on Wednesday, hitting $49.68. 389,854 shares of the company's stock were exchanged, compared to its average volume of 419,014. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.55. ABM Industries Incorporated has a 12 month low of $40.85 and a 12 month high of $59.78. The stock has a market cap of $3.09 billion, a P/E ratio of 40.06 and a beta of 0.80. The company has a 50 day moving average of $47.51 and a 200 day moving average of $48.73.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). ABM Industries had a return on equity of 12.54% and a net margin of 0.93%.The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company earned $0.87 earnings per share. ABM Industries's quarterly revenue was up 4.6% compared to the same quarter last year. ABM Industries has set its FY 2025 guidance at 3.650-3.800 EPS. On average, equities research analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Thursday, July 3rd were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, July 3rd. ABM Industries's dividend payout ratio is currently 85.48%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Robert W. Baird raised ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price objective for the company in a report on Monday, June 9th. UBS Group raised ABM Industries from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $50.00 to $54.00 in a report on Monday, June 9th. Truist Financial raised ABM Industries from a "hold" rating to a "buy" rating and lifted their price objective for the company from $55.00 to $58.00 in a report on Wednesday, July 2nd. Wall Street Zen cut ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Baird R W raised ABM Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, ABM Industries has an average rating of "Buy" and an average price target of $56.00.

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.