Algert Global LLC Sells 81,150 Shares of ABM Industries Incorporated $ABM

Key Points

• Algert Global LLC reduced its stake in ABM Industries by 42.3% during the first quarter, selling 81,150 shares, resulting in ownership of 110,897 shares valued at $5.25 million.
• ABM Industries announced a quarterly dividend of $0.265 per share, with a dividend yield of 2.2% and a payout ratio of 85.48%.
• Wall Street analysts have mixed ratings for ABM Industries, with one hold, three buy, and one strong buy ratings, and an average price target of $56.00.

Algert Global LLC decreased its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 42.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,897 shares of the business services provider's stock after selling 81,150 shares during the quarter. Algert Global LLC owned about 0.18% of ABM Industries worth $5,252,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in ABM Industries by 107.7% during 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 period. Caitong International Asset Management Co. Ltd purchased a new position in ABM Industries during the first quarter valued at $45,000. Sterling Capital Management LLC lifted its position in ABM Industries by 834.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock valued at $104,000 after buying an additional 1,820 shares during the period. Palouse Capital Management Inc. lifted its position in ABM Industries by 17.4% during the first quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock valued at $143,000 after buying an additional 446 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in ABM Industries during the fourth quarter valued at $190,000. Hedge funds and other institutional investors own 91.62% of the company's stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

ABM Industries Stock Up 3.8%

Shares of NYSE:ABM traded up $1.8160 on Friday, hitting $49.6760. 534,514 shares of the company traded hands, compared to its average volume of 410,393. ABM Industries Incorporated has a 52 week low of $40.85 and a 52 week high of $59.78. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $47.22 and a 200-day simple moving average of $48.76. The company has a market cap of $3.09 billion, a PE ratio of 40.06 and a beta of 0.80.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings results 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 net margin of 0.93% and a return on equity of 12.54%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the business earned $0.87 earnings per share. ABM Industries's 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. As a group, research analysts expect that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Announces Dividend

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

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.