Charles Schwab Investment Management Inc. Sells 8,364 Shares of ABM Industries Incorporated $ABM

Charles Schwab Investment Management Inc. trimmed its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 684,961 shares of the business services provider’s stock after selling 8,364 shares during the period. Charles Schwab Investment Management Inc. owned about 1.10% of ABM Industries worth $32,440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. raised 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 acquiring an additional 477 shares in the last quarter. Sterling Capital Management LLC increased its position 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 worth $104,000 after purchasing an additional 1,820 shares during the last quarter. Palouse Capital Management Inc. raised its stake in shares of ABM Industries by 17.4% during the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider’s stock worth $143,000 after purchasing an additional 446 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of ABM Industries during the 4th quarter worth approximately $190,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of ABM Industries in the 4th quarter valued at approximately $204,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ABM. Baird R W upgraded shares of ABM Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, June 9th. Truist Financial upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and raised their target price for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Wall Street Zen downgraded ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. UBS Group upgraded ABM Industries from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $54.00 in a research note on Monday, June 9th. Finally, Robert W. Baird upgraded ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 price target on the stock in a research note on Monday, June 9th. One 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 presently has an average rating of “Buy” and a consensus target price of $56.00.

ABM Industries Price Performance

ABM Industries stock opened at $48.30 on Wednesday. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 38.95 and a beta of 0.80. 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 Incorporated has a 12 month low of $40.85 and a 12 month high of $59.78. The stock’s 50 day moving average is $47.06 and its 200-day moving average is $48.88.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm earned $0.87 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. ABM Industries has set its FY 2025 guidance at 3.650-3.800 EPS. Equities research analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Thursday, July 3rd were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, July 3rd. ABM Industries’s dividend payout ratio (DPR) is currently 85.48%.

Insider Transactions at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 17,250 shares of ABM Industries stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $48.03, for a total value of $828,517.50. Following the completion of the sale, the chief operating officer owned 71,256 shares in the company, valued at $3,422,425.68. The trade was a 19.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $45.52, for a total transaction of $168,924.72. Following the transaction, the director owned 30,958 shares in the company, valued at approximately $1,409,208.16. The trade was 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.

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.