Deutsche Bank AG Decreases Stake in ABM Industries Incorporated $ABM

Key Points

• Deutsche Bank AG reduced its stake in ABM Industries by 10.4%, now holding $2.58 million worth of shares after selling 6,290 shares in Q1.
• Insider transactions include Thomas M. Gartland selling 3,711 shares and Rene Jacobsen selling 17,250 shares, indicating a decrease in their ownership positions.
• ABM Industries announced a quarterly dividend of $0.265 per share, representing an annualized yield of 2.2% with a payout ratio of 85.48%.

Deutsche Bank AG cut its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,388 shares of the business services provider's stock after selling 6,290 shares during the quarter. Deutsche Bank AG owned about 0.09% of ABM Industries worth $2,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LSV Asset Management increased its stake in shares of ABM Industries by 66.4% in the 1st quarter. LSV Asset Management now owns 1,386,172 shares of the business services provider's stock worth $65,649,000 after acquiring an additional 553,225 shares during the last quarter. US Bancorp DE increased its stake in shares of ABM Industries by 3,410.5% in the 1st quarter. US Bancorp DE now owns 4,353 shares of the business services provider's stock worth $206,000 after acquiring an additional 4,229 shares during the last quarter. Goodman Financial Corp increased its stake in shares of ABM Industries by 1.4% in the 1st quarter. Goodman Financial Corp now owns 280,936 shares of the business services provider's stock worth $13,305,000 after acquiring an additional 3,889 shares during the last quarter. Federated Hermes Inc. increased 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 worth $44,000 after acquiring an additional 477 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of ABM Industries by 6.3% in the 1st quarter. Cetera Investment Advisers now owns 7,264 shares of the business services provider's stock worth $344,000 after acquiring an additional 430 shares during the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ABM Industries

In related 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 transaction, the chief operating officer directly owned 71,256 shares in the company, valued at $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 link. Also, Director Thomas M. Gartland sold 3,711 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $45.52, for a total value of $168,924.72. Following the transaction, the director owned 30,958 shares of the company's stock, valued at $1,409,208.16. This trade represents a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

ABM has been the subject of a number of recent research reports. Robert W. Baird raised ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price for the company in a research note on Monday, June 9th. Truist Financial upgraded ABM Industries from a "hold" rating to a "buy" rating and increased their price target for the stock from $55.00 to $58.00 in a report on Wednesday, July 2nd. Baird R W upgraded ABM Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. UBS Group upgraded ABM Industries from a "neutral" rating to a "buy" rating and increased their price target for the stock from $50.00 to $54.00 in a report on Monday, June 9th. Finally, Wall Street Zen cut ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $56.00.

ABM Industries Trading Down 1.6%

ABM Industries stock traded down $0.7860 during midday trading on Monday, reaching $48.8740. 428,639 shares of the stock traded hands, compared to its average volume of 410,393. The company has a 50-day simple moving average of $47.30 and a two-hundred day simple moving average of $48.73. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.78. The firm has a market cap of $3.04 billion, a PE ratio of 39.41 and a beta of 0.80. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83.

ABM Industries (NYSE:ABM - Get Free Report) last announced its earnings results on Friday, June 6th. The business services provider reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. The firm had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter last year, the business earned $0.87 earnings per share. 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. Research analysts expect that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently announced 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. This represents a $1.06 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Thursday, July 3rd. ABM Industries's dividend payout ratio (DPR) is 85.48%.

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.