Prudential Financial Inc. Has $12.78 Million Stock Holdings in ABM Industries Incorporated $ABM

Prudential Financial Inc. grew its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 7.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 270,666 shares of the business services provider’s stock after acquiring an additional 17,755 shares during the quarter. Prudential Financial Inc. owned about 0.43% of ABM Industries worth $12,778,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. raised its stake in ABM Industries by 17.8% in the first quarter. Invesco Ltd. now owns 1,786,926 shares of the business services provider’s stock valued at $84,629,000 after purchasing an additional 269,410 shares in the last quarter. American Century Companies Inc. increased its holdings in ABM Industries by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 1,615,135 shares of the business services provider’s stock valued at $76,251,000 after buying an additional 24,638 shares during the period. Geode Capital Management LLC raised its position in shares of ABM Industries by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,502,219 shares of the business services provider’s stock valued at $70,928,000 after buying an additional 10,182 shares in the last quarter. LSV Asset Management raised its position in shares of ABM Industries by 1.2% in the 2nd quarter. LSV Asset Management now owns 1,402,702 shares of the business services provider’s stock valued at $66,222,000 after buying an additional 16,530 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of ABM Industries by 13.5% during the 2nd quarter. Pzena Investment Management LLC now owns 963,943 shares of the business services provider’s stock worth $45,508,000 after acquiring an additional 114,485 shares during the period. Institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

NYSE ABM opened at $43.03 on Friday. The firm’s fifty day moving average price is $44.10 and its two-hundred day moving average price is $46.77. The stock has a market cap of $2.64 billion, a PE ratio of 23.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 1.49. ABM Industries Incorporated has a fifty-two week low of $40.00 and a fifty-two week high of $57.93.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, September 5th. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.13). The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. On average, equities analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries announced that its board has approved a stock repurchase 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 often an indication that the company’s board of directors believes its shares are undervalued.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd were paid a $0.265 dividend. 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 is currently 57.61%.

Wall Street Analyst Weigh In

ABM has been the topic of a number of recent analyst reports. 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. Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. UBS Group boosted their price target on ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a research report on Wednesday, October 8th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $54.00 target price (down previously from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average 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.