SG Capital Management LLC Makes New Investment in ABM Industries Incorporated $ABM

SG Capital Management LLC purchased a new stake in ABM Industries Incorporated (NYSE:ABM) in the second quarter, HoldingsChannel reports. The institutional investor purchased 615,636 shares of the business services provider’s stock, valued at approximately $29,064,000. ABM Industries comprises about 2.0% of SG Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding.

Several other institutional investors also recently modified their holdings of ABM. Summit Securities Group LLC bought a new stake in shares of ABM Industries in the 1st quarter valued at about $38,000. Federated Hermes Inc. grew its holdings in ABM Industries by 107.7% during the first quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock worth $44,000 after purchasing an additional 477 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in ABM Industries during the first quarter worth approximately $45,000. Kiker Wealth Management LLC bought a new stake in ABM Industries in the second quarter valued at approximately $61,000. Finally, Virtus Advisers LLC bought a new stake in ABM Industries in the first quarter valued at approximately $64,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Stock Down 1.1%

ABM stock opened at $42.06 on Friday. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $58.18. 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 stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 22.86 and a beta of 0.76. The business’s fifty day moving average price is $44.81 and its two-hundred day moving average price is $47.26.

ABM Industries (NYSE:ABM) last released its quarterly 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 business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company posted $0.94 earnings per share. The company’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, equities analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, October 2nd. This represents a $1.06 annualized dividend and a dividend yield of 2.5%. ABM Industries’s dividend payout ratio (DPR) is currently 57.61%.

ABM Industries announced that its board has authorized a share repurchase plan on Friday, September 5th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ABM shares. Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ABM Industries in a research report on Wednesday, October 8th. Robert W. Baird reiterated 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. Baird R W cut shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, UBS Group lifted their target price on shares of ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.67.

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.