ABM Industries Incorporated $ABM Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of ABM Industries Incorporated (NYSE:ABM) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,398 shares of the business services provider’s stock after purchasing an additional 362 shares during the period. HighTower Advisors LLC’s holdings in ABM Industries were worth $966,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ABM. Envestnet Asset Management Inc. lifted its stake in ABM Industries by 2.8% during 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 in the last quarter. Mariner LLC raised its stake in shares of ABM Industries by 13.7% in the fourth quarter. Mariner LLC now owns 5,047 shares of the business services provider’s stock valued at $258,000 after acquiring an additional 608 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of ABM Industries in the fourth quarter valued at $373,000. Northern Trust Corp raised its stake in shares of ABM Industries by 5.4% in the fourth quarter. Northern Trust Corp now owns 836,801 shares of the business services provider’s stock valued at $42,827,000 after acquiring an additional 42,997 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of ABM Industries in the fourth quarter valued at $337,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABM has been the topic of several analyst reports. Truist Financial upgraded ABM Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Wall Street Zen cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Baird R W upgraded ABM Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. UBS Group upgraded ABM Industries from a “neutral” rating to a “buy” rating and increased their price objective for the company 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 objective on the stock in a research note on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, ABM Industries has an average rating of “Buy” and an average target price of $56.00.

Insider Activity

In other ABM Industries news, Director Thomas M. Gartland sold 3,711 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,409,208.16. This trade represents a 10.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Rene Jacobsen sold 17,250 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $48.03, for a total value of $828,517.50. Following the transaction, the chief operating officer directly owned 71,256 shares in the company, valued at approximately $3,422,425.68. The trade was a 19.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

ABM Industries Stock Performance

NYSE:ABM opened at $49.68 on Thursday. The firm has a market capitalization of $3.09 billion, a PE ratio of 40.06 and a beta of 0.80. The business’s fifty day moving average price is $47.51 and its 200 day moving average price is $48.73. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.55. ABM Industries Incorporated has a 12 month low of $40.85 and a 12 month high of $59.78.

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

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.265 per share. 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 (DPR) is presently 85.48%.

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.