AQR Capital Management LLC Has $8.52 Million Holdings in ABM Industries Incorporated $ABM

Key Points

• AQR Capital Management LLC has reduced its stake in ABM Industries by 23.1%, selling 54,032 shares, and now holds 179,938 shares valued at approximately $8.5 million.
• Numerous analysts have weighed in on ABM Industries, resulting in mixed ratings, with UBS raising the target price to $55.00 while Baird downgraded it to a "hold" recommendation.
• ABM Industries recently announced a quarterly dividend of $0.265 per share, with a payout ratio of 57.61%, and initiated a stock repurchase plan of up to $150 million.

AQR Capital Management LLC reduced its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 179,938 shares of the business services provider's stock after selling 54,032 shares during the quarter. AQR Capital Management LLC owned approximately 0.29% of ABM Industries worth $8,522,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in ABM Industries in the first quarter worth about $38,000. Federated Hermes Inc. lifted its holdings in ABM Industries by 107.7% in the first quarter. Federated Hermes Inc. now owns 920 shares of the business services provider's stock worth $44,000 after acquiring an additional 477 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in ABM Industries in the first quarter worth about $45,000. Virtus Advisers LLC bought a new position in ABM Industries in the first quarter worth about $64,000. Finally, Palouse Capital Management Inc. lifted its holdings in ABM Industries by 17.4% in the first quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock worth $143,000 after acquiring an additional 446 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

ABM Industries Trading Down 0.5%

NYSE ABM traded down $0.25 on Monday, hitting $45.54. 454,862 shares of the company were exchanged, compared to its average volume of 511,823. The company's 50 day moving average price is $47.91 and its 200-day moving average price is $48.21. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $2.79 billion, a P/E ratio of 24.75 and a beta of 0.80. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.15.

ABM Industries (NYSE:ABM - Get Free Report) last posted 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 company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. ABM Industries's quarterly revenue was up 6.2% on a year-over-year basis. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries declared that its Board of Directors has authorized a stock repurchase program on Friday, September 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, October 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 2.3%. ABM Industries's dividend payout ratio (DPR) is presently 57.61%.

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 17,250 shares of the firm's stock in a transaction dated 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 approximately $3,422,425.68. This trade represents a 19.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ABM. Baird R W cut shares of ABM Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Wall Street Zen downgraded shares of ABM Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Truist Financial upgraded shares of ABM Industries from a "hold" rating to a "buy" rating and boosted their price target for the stock from $55.00 to $58.00 in a research report on Wednesday, July 2nd. UBS Group boosted their price target on shares of ABM Industries from $54.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Finally, Robert W. Baird restated a "neutral" rating and set a $54.00 price target (down from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.67.

ABM Industries 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.