Intech Investment Management LLC Boosts Stock 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 raised its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 20.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,040 shares of the business services provider's stock after acquiring an additional 11,108 shares during the period. Intech Investment Management LLC owned approximately 0.10% of ABM Industries worth $3,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada lifted its holdings in ABM Industries by 0.4% during the first quarter. Royal Bank of Canada now owns 86,571 shares of the business services provider's stock worth $4,100,000 after acquiring an additional 312 shares during the period. HighTower Advisors LLC grew its position in shares of ABM Industries by 1.8% in the first quarter. HighTower Advisors LLC now owns 20,398 shares of the business services provider's stock valued at $966,000 after purchasing an additional 362 shares in the last quarter. Cetera Investment Advisers grew its position in shares of ABM Industries by 6.3% in the first quarter. Cetera Investment Advisers now owns 7,264 shares of the business services provider's stock valued at $344,000 after purchasing an additional 430 shares in the last quarter. Palouse Capital Management Inc. grew its position in shares of ABM Industries by 17.4% in the first 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 in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of ABM Industries by 107.7% in the first 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 in the last quarter. 91.62% of the stock is currently owned by institutional investors.

ABM Industries Trading Up 1.0%

NYSE:ABM traded up $0.47 during mid-day trading on Thursday, reaching $45.58. 518,340 shares of the company's stock traded hands, compared to its average volume of 655,218. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.15. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 24.77 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. The company has a 50 day moving average price of $47.65 and a 200-day moving average price of $48.05.

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

ABM Industries Announces Dividend

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

ABM Industries announced that its board has authorized a stock repurchase program on Friday, September 5th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

ABM has been the subject of several research analyst reports. Wall Street Zen lowered 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 stock from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Baird R W lowered ABM Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Robert W. Baird reaffirmed a "neutral" rating and set a $54.00 price target (down previously from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Finally, UBS Group lifted their price target on ABM Industries from $54.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, ABM Industries currently has a consensus rating of "Moderate Buy" and an average price target of $55.67.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 17,250 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $48.03, for a total transaction of $828,517.50. Following the transaction, the chief operating officer owned 71,256 shares in the company, valued at approximately $3,422,425.68. This represents a 19.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company's stock.

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.