Dimensional Fund Advisors LP Sells 190,510 Shares of ABM Industries Incorporated $ABM

Key Points

• Dimensional Fund Advisors LP reduced its stake in ABM Industries by 4.3%, now owning 4,241,923 shares valued at approximately $200.9 million.
• ABM Industries announced a dividend of $0.265 per share, resulting in an annualized yield of 2.2%, with a payout ratio of 85.48%.
• Several analysts upgraded ABM Industries' stock rating recently, with average price targets now hovering around $56.00.

Dimensional Fund Advisors LP cut its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,241,923 shares of the business services provider's stock after selling 190,510 shares during the period. Dimensional Fund Advisors LP owned 6.82% of ABM Industries worth $200,895,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. boosted its holdings in shares of ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider's stock worth $44,000 after buying an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of ABM Industries during the 1st quarter worth approximately $45,000. Sterling Capital Management LLC boosted its holdings in shares of ABM Industries by 834.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock worth $104,000 after buying an additional 1,820 shares in the last quarter. Palouse Capital Management Inc. boosted its holdings in shares of ABM Industries by 17.4% during the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock worth $143,000 after buying an additional 446 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of ABM Industries during the 4th quarter worth approximately $190,000. 91.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. 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. Wall Street Zen cut ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird upgraded ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price target on the stock 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, Baird R W raised ABM Industries from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, ABM Industries has an average rating of "Buy" and an average price target of $56.00.

Insiders Place Their Bets

In related news, Director Thomas M. Gartland sold 3,711 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $45.52, for a total value 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. This represents a 10.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Rene Jacobsen sold 17,250 shares of the 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 directly owned 71,256 shares of the company's stock, valued at $3,422,425.68. The trade was a 19.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

ABM Industries Stock Up 3.8%

Shares of NYSE:ABM traded up $1.8160 during trading on Friday, reaching $49.6760. 534,514 shares of the stock were exchanged, compared to its average volume of 410,393. 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 1-year low of $40.85 and a 1-year high of $59.78. The stock has a fifty day moving average of $47.22 and a two-hundred day moving average of $48.76. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 40.06 and a beta of 0.80.

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

ABM Industries Announces Dividend

The business 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 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, July 3rd. ABM Industries's dividend payout ratio is presently 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.