Charles Schwab Investment Management Inc. Has $32.44 Million Stake in ABM Industries Incorporated $ABM

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in ABM Industries by 1.2% in Q1, selling 8,364 shares, and now owns about 1.10% of the company.
• Brokerages have recently upgraded ABM Industries' stock ratings, with Baird R W and Truist Financial both moving from "hold" to "strong-buy" or "buy" respectively, reflecting positive market sentiment.
• ABM Industries reported Q2 earnings of $0.86 per share, slightly missing estimates, while revenues increased by 4.6% year-over-year to $2.11 billion.

Charles Schwab Investment Management Inc. trimmed its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 684,961 shares of the business services provider's stock after selling 8,364 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.10% of ABM Industries worth $32,440,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ABM. LSV Asset Management boosted its holdings in ABM Industries by 66.4% during the first quarter. LSV Asset Management now owns 1,386,172 shares of the business services provider's stock valued at $65,649,000 after acquiring an additional 553,225 shares during the period. Nuveen Asset Management LLC raised its position in shares of ABM Industries by 99.2% during the fourth quarter. Nuveen Asset Management LLC now owns 671,266 shares of the business services provider's stock valued at $34,355,000 after buying an additional 334,295 shares during the last quarter. Bank of America Corp DE raised its position in shares of ABM Industries by 52.1% during the fourth quarter. Bank of America Corp DE now owns 677,811 shares of the business services provider's stock valued at $34,690,000 after buying an additional 232,190 shares during the last quarter. Captrust Financial Advisors raised its position in shares of ABM Industries by 2,101.3% during the fourth quarter. Captrust Financial Advisors now owns 172,057 shares of the business services provider's stock valued at $8,806,000 after buying an additional 164,241 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of ABM Industries during the fourth quarter valued at about $7,044,000. 91.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

ABM Industries Price Performance

NYSE:ABM traded up $1.8160 during mid-day trading on Friday, hitting $49.6760. The company's stock had a trading volume of 534,514 shares, compared to its average volume of 395,137. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $59.78. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 40.06 and a beta of 0.80. The stock has a fifty day moving average of $47.22 and a 200-day moving average of $48.79.

ABM Industries (NYSE:ABM - Get Free Report) last posted its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company earned $0.87 EPS. The business's revenue for the quarter was up 4.6% on a year-over-year basis. ABM Industries has set its FY 2025 guidance at 3.650-3.800 EPS. As a group, equities analysts forecast that ABM Industries Incorporated will post 3.71 EPS for the current fiscal 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. This represents a $1.06 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 3rd. ABM Industries's dividend payout ratio is 85.48%.

Insider Activity

In other news, COO Rene Jacobsen sold 17,250 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas M. Gartland sold 3,711 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $45.52, for a total transaction of $168,924.72. Following 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. Corporate insiders own 0.90% of the company's stock.

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.