Nuveen LLC Makes New Investment in ABM Industries Incorporated $ABM

Nuveen LLC bought a new stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 526,631 shares of the business services provider's stock, valued at approximately $24,941,000. Nuveen LLC owned 0.85% of ABM Industries as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wells Fargo & Company MN lifted its stake in ABM Industries by 23.1% in the 4th quarter. Wells Fargo & Company MN now owns 42,103 shares of the business services provider's stock worth $2,155,000 after purchasing an additional 7,904 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in ABM Industries by 2.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,801 shares of the business services provider's stock worth $655,000 after purchasing an additional 347 shares during the period. Bank of Montreal Can grew its holdings in shares of ABM Industries by 8.4% during the fourth quarter. Bank of Montreal Can now owns 10,854 shares of the business services provider's stock valued at $556,000 after buying an additional 837 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in ABM Industries in the fourth quarter worth approximately $3,502,000. Finally, Sterling Capital Management LLC lifted its stake 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 valued at $104,000 after buying an additional 1,820 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company's stock.

ABM Industries Stock Performance

ABM Industries stock traded up $1.5850 during midday trading on Friday, reaching $49.4450. 126,321 shares of the stock traded hands, compared to its average volume of 487,687. The firm has a fifty day moving average price of $47.13 and a two-hundred day moving average price of $48.84. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 39.87 and a beta of 0.80. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $59.78. 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 quarterly earnings data 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). The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. ABM Industries had a return on equity of 12.54% and a net margin of 0.93%.The company's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. ABM Industries has set its FY 2025 guidance at 3.650-3.800 EPS. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd were given a $0.265 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.1%. ABM Industries's dividend payout ratio is presently 85.48%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABM. 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 report 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. Truist Financial raised shares of ABM Industries from a "hold" rating to a "buy" rating and lifted their price target for the company from $55.00 to $58.00 in a research report on Wednesday, July 2nd. Wall Street Zen downgraded shares of ABM Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, UBS Group upgraded shares of ABM Industries from a "neutral" rating to a "buy" rating and increased their target price for the stock from $50.00 to $54.00 in a research note on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $56.00.

Insider Transactions at ABM Industries

In related news, COO Rene Jacobsen sold 17,250 shares of ABM Industries stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $48.03, for a total transaction of $828,517.50. Following the sale, the chief operating officer directly owned 71,256 shares of the company's stock, valued at approximately $3,422,425.68. The trade was a 19.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas M. Gartland sold 3,711 shares of ABM Industries stock in a transaction on Friday, June 13th. The shares were sold at an average price of $45.52, for a total transaction of $168,924.72. Following the completion of the sale, the director owned 30,958 shares of the company's stock, valued at $1,409,208.16. This represents a 10.70% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.