Caisse DE Depot ET Placement DU Quebec Makes New Investment in ABM Industries Incorporated $ABM

Key Points

• Caisse DE Depot ET Placement DU Quebec has taken a new position in ABM Industries, acquiring approximately $4.26 million worth of shares, representing 0.14% of the company.
• ABM Industries faces mixed analyst ratings, with multiple upgrades to a "buy" rating but also a downgrade from "buy" to "hold" by Wall Street Zen.
• The company reported EPS of $0.86 for the last quarter, falling short of the consensus estimate, while revenue increased by 4.6% year-over-year.

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,900 shares of the business services provider's stock, valued at approximately $4,258,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.14% of ABM Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in shares of ABM Industries by 2.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,801 shares of the business services provider's stock valued at $655,000 after purchasing an additional 347 shares during the period. Mariner LLC grew its stake in ABM Industries by 13.7% during the fourth quarter. Mariner LLC now owns 5,047 shares of the business services provider's stock worth $258,000 after buying an additional 608 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of ABM Industries in the 4th quarter valued at approximately $373,000. Northern Trust Corp boosted its stake in shares of ABM Industries by 5.4% in the 4th quarter. Northern Trust Corp now owns 836,801 shares of the business services provider's stock valued at $42,827,000 after purchasing an additional 42,997 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in ABM Industries in the 4th quarter valued at approximately $337,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Trading Down 0.7%

Shares of NYSE:ABM traded down $0.34 during mid-day trading on Tuesday, hitting $48.84. The company had a trading volume of 194,361 shares, compared to its average volume of 486,636. The firm has a fifty day moving average price of $47.82 and a 200 day moving average price of $48.58. The company has a market capitalization of $3.04 billion, a PE ratio of 39.36 and a beta of 0.80. 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 one year low of $40.85 and a one year high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last released 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 net margin of 0.93% and a return on equity of 12.54%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The business'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 forecast that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Thursday, July 3rd were given a $0.265 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.06 annualized dividend and a yield of 2.2%. ABM Industries's dividend payout ratio (DPR) is presently 85.48%.

Insider Buying and Selling at ABM Industries

In related 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 completion of the sale, the chief operating officer owned 71,256 shares of the company's stock, valued at approximately $3,422,425.68. This trade represents a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas M. Gartland sold 3,711 shares of ABM Industries stock in a transaction on Friday, June 13th. The shares were sold at an average price of $45.52, for a total transaction of $168,924.72. Following the completion of the sale, 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. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ABM. Wall Street Zen lowered shares of ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Truist Financial upgraded shares of 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 report on Wednesday, July 2nd. UBS Group upgraded shares of 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 report on Monday, June 9th. Robert W. Baird upgraded shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price target for the company in a report on Monday, June 9th. Finally, Baird R W upgraded shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, ABM Industries currently has an average rating of "Buy" and an average target price of $56.00.

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.