Intech Investment Management LLC Increases Position in ABM Industries Incorporated $ABM

Key Points

• Intech Investment Management LLC increased its holdings in ABM Industries by 20.6%, owning 65,040 shares valued at approximately $3.08 million as of the last filing.
• ABM Industries' quarterly earnings missed estimates, reporting an EPS of $0.82 compared to the expected $0.95, while revenue rose by 6.2% year-over-year to $2.22 billion.
• The company announced a $150 million share repurchase program and declared a quarterly dividend of $0.265 per share, set to be paid on November 3rd.

Intech Investment Management LLC lifted its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 20.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,040 shares of the business services provider's stock after acquiring an additional 11,108 shares during the quarter. Intech Investment Management LLC owned 0.10% of ABM Industries worth $3,080,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABM. Boston Partners increased its holdings in ABM Industries by 2,129.6% in the first quarter. Boston Partners now owns 641,351 shares of the business services provider's stock valued at $30,367,000 after buying an additional 612,586 shares during the last quarter. LSV Asset Management increased its holdings in ABM Industries by 66.4% in 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 buying an additional 553,225 shares during the last quarter. Nuveen LLC bought a new stake in ABM Industries in the first quarter valued at about $24,941,000. American Century Companies Inc. increased its holdings in ABM Industries by 34.4% in the first quarter. American Century Companies Inc. now owns 1,590,497 shares of the business services provider's stock valued at $75,326,000 after buying an additional 406,802 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in ABM Industries by 99.2% in 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. 91.62% of the stock is owned by institutional investors.

Insider Transactions at ABM Industries

In related news, COO Rene Jacobsen sold 17,250 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $48.03, for a total value of $828,517.50. Following the completion of the transaction, the chief operating officer directly owned 71,256 shares of the company's stock, valued at $3,422,425.68. This represents a 19.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABM has been the subject of several research analyst reports. Baird R W lowered ABM Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. UBS Group boosted their price objective on ABM Industries from $54.00 to $55.00 and gave the company a "buy" rating in a report on Monday, September 8th. Wall Street Zen lowered ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird reissued a "neutral" rating and issued a $54.00 price objective (down from $56.00) on shares of ABM Industries in a report on Monday, September 8th. Finally, Truist Financial raised ABM Industries from a "hold" rating to a "buy" rating and upped their target price for the company from $55.00 to $58.00 in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.67.

ABM Industries Stock Down 2.2%

NYSE:ABM opened at $45.79 on Friday. The firm has a market capitalization of $2.80 billion, a PE ratio of 24.88 and a beta of 0.80. The stock has a 50 day moving average of $47.91 and a 200-day moving average of $48.25. ABM Industries Incorporated has a 52 week low of $40.85 and a 52 week high of $59.15. The company has a current ratio of 1.49, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82.

ABM Industries (NYSE:ABM - Get Free Report) last posted its earnings results on Friday, September 5th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.13). ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company posted $0.94 earnings per share. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries declared that its Board of Directors has initiated a share repurchase program on Friday, September 5th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the business services provider to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 2nd. ABM Industries's dividend payout ratio is 57.61%.

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.

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