Charles Schwab Investment Management Inc. Sells 8,364 Shares of 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. cut its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABM. Federated Hermes Inc. raised its stake in shares of ABM Industries by 107.7% in the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider's stock valued at $44,000 after purchasing an additional 477 shares during the period. Sterling Capital Management LLC raised its stake in shares of ABM Industries by 834.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock valued at $104,000 after purchasing an additional 1,820 shares during the period. Palouse Capital Management Inc. raised its stake in shares of ABM Industries by 17.4% in the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock valued at $143,000 after purchasing an additional 446 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of ABM Industries in the 4th quarter valued at about $190,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of ABM Industries in the 4th quarter valued at about $204,000. 91.62% of the stock is currently owned by institutional investors.

Insider Transactions at ABM Industries

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 transaction of $168,924.72. Following the completion of the transaction, the director owned 30,958 shares in the company, valued at approximately $1,409,208.16. This trade represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

ABM Industries Stock Down 1.6%

Shares of NYSE:ABM traded down $0.7860 during midday trading on Monday, reaching $48.8740. The company had a trading volume of 428,639 shares, compared to its average volume of 410,393. 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 business's 50 day moving average price is $47.30 and its 200 day moving average price is $48.73. The stock has a market cap of $3.04 billion, a PE ratio of 39.41 and a beta of 0.80. ABM Industries Incorporated has a 1-year low of $40.85 and a 1-year high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last released its earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.07 billion. ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. ABM Industries's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.800 EPS. Research 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 issued a dividend of $0.265 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.2%. ABM Industries's dividend payout ratio (DPR) is presently 85.48%.

Analysts Set New Price Targets

Several research firms have issued reports on ABM. Baird R W raised ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Wall Street Zen downgraded ABM Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Truist Financial raised ABM Industries from a "hold" rating to a "buy" rating and lifted their price target for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. UBS Group raised ABM Industries from a "neutral" rating to a "buy" rating and lifted their target price for the company from $50.00 to $54.00 in a research report on Monday, June 9th. Finally, Robert W. Baird raised ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price on the stock in a research report on Monday, June 9th. One 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, the stock has an average rating of "Buy" and an average target price of $56.00.

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.