Nomura Holdings Inc. Has $756,000 Stock Position in ABM Industries Incorporated $ABM

Key Points

• Nomura Holdings Inc. reduced its stake in ABM Industries by 70.6%, selling 38,442 shares and now holding 15,973 shares worth approximately $756,000.
• Several institutions have changed their positions in ABM Industries, including State of Wyoming increasing its stake by 8.9%, while Caisse DE Depot ET Placement DU Quebec purchased new shares valued at around $4.26 million.
• ABM Industries reported a net margin of 0.93% and revenue of $2.11 billion for the last quarter, surpassing analyst expectations despite missing EPS estimates.

Nomura Holdings Inc. decreased its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 70.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,973 shares of the business services provider's stock after selling 38,442 shares during the period. Nomura Holdings Inc.'s holdings in ABM Industries were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. State of Wyoming boosted its position in shares of ABM Industries by 8.9% during the 1st quarter. State of Wyoming now owns 10,908 shares of the business services provider's stock valued at $517,000 after purchasing an additional 896 shares in the last quarter. Keeley Teton Advisors LLC lifted its stake in ABM Industries by 0.7% during the first quarter. Keeley Teton Advisors LLC now owns 147,560 shares of the business services provider's stock valued at $6,988,000 after buying an additional 968 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in ABM Industries during the first quarter valued at about $4,258,000. Virtus Advisers LLC purchased a new stake in ABM Industries during the first quarter valued at about $64,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in ABM Industries by 1.8% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 188,122 shares of the business services provider's stock valued at $8,909,000 after buying an additional 3,262 shares in the last quarter. Institutional investors own 91.62% of the company's stock.

ABM Industries Stock Up 0.3%

Shares of NYSE ABM traded up $0.17 during mid-day trading on Friday, reaching $48.27. The company had a trading volume of 2,396,971 shares, compared to its average volume of 446,622. The stock has a fifty day moving average of $48.06 and a two-hundred day moving average of $48.46. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.78. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 26.23 and a beta of 0.80. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.55 and a current ratio of 1.55.

ABM Industries (NYSE:ABM - Get Free Report) last released its quarterly earnings data on Friday, September 5th. The business services provider reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.13). ABM Industries had a return on equity of 12.54% and a net margin of 0.93%.The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company posted $0.94 EPS. The company's quarterly 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. As a group, equities research analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The company 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. The ex-dividend date is Thursday, October 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 2.2%. ABM Industries's dividend payout ratio is currently 57.61%.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial raised shares of ABM Industries from a "hold" rating to a "buy" rating and upped their price objective for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. UBS Group raised shares of ABM Industries from a "neutral" rating to a "buy" rating and upped their price objective for the company from $50.00 to $54.00 in a research note on Monday, June 9th. Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Wall Street Zen lowered shares of ABM Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Robert W. Baird raised shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price objective for the company in a research note on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $56.00.

Insider Buying and Selling

In other ABM Industries 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 transaction of $828,517.50. Following the transaction, the chief operating officer owned 71,256 shares in the company, valued at $3,422,425.68. This trade represents a 19.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas M. Gartland sold 3,711 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,409,208.16. This trade represents a 10.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

ABM Industries Company 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.