Naples Global Advisors LLC Purchases 304 Shares of ABM Industries Incorporated $ABM

Naples Global Advisors LLC increased its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,370 shares of the business services provider’s stock after acquiring an additional 304 shares during the period. Naples Global Advisors LLC’s holdings in ABM Industries were worth $537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of ABM Industries by 4,082.5% in the first quarter. GAMMA Investing LLC now owns 70,140 shares of the business services provider’s stock valued at $3,322,000 after buying an additional 68,463 shares in the last quarter. apricus wealth LLC acquired a new position in ABM Industries during the 1st quarter worth about $217,000. Wealth Enhancement Advisory Services LLC grew its holdings in ABM Industries by 12.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider’s stock worth $289,000 after acquiring an additional 693 shares during the last quarter. Palouse Capital Management Inc. increased its position in ABM Industries by 17.4% in the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider’s stock valued at $143,000 after acquiring an additional 446 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in shares of ABM Industries in the first quarter worth about $330,000. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Trading Up 0.3%

NYSE ABM opened at $46.59 on Friday. ABM Industries Incorporated has a 12 month low of $40.85 and a 12 month high of $59.15. The stock has a 50-day simple moving average of $47.14 and a 200 day simple moving average of $47.76. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $2.85 billion, a PE ratio of 25.32 and a beta of 0.78.

ABM Industries (NYSE:ABM) last issued its earnings results on Friday, September 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.ABM Industries’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Research analysts forecast that ABM Industries Incorporated will post 3.71 EPS 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 $0.265 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $1.06 annualized dividend and a yield of 2.3%. ABM Industries’s dividend payout ratio (DPR) is 57.61%.

ABM Industries declared that its board has authorized a stock buyback program on Friday, September 5th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ABM. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday. Baird R W lowered ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Robert W. Baird restated a “neutral” rating and set a $54.00 target price (down previously from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ABM Industries in a research note on Saturday, September 27th. Finally, Truist Financial upgraded ABM Industries from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $58.00 in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, ABM Industries presently has an average rating of “Hold” and an average price target of $55.67.

Insider Buying and Selling at ABM Industries

In other news, COO Rene Jacobsen sold 17,250 shares of ABM Industries stock in a transaction 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 transaction, the chief operating officer directly owned 71,256 shares of the company’s stock, 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 through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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.