Farther Finance Advisors LLC Has $32,000 Stock Holdings in ABM Industries Incorporated $ABM

Farther Finance Advisors LLC lessened its stake in ABM Industries Incorporated (NYSE:ABM) by 82.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 686 shares of the business services provider’s stock after selling 3,170 shares during the quarter. Farther Finance Advisors LLC’s holdings in ABM Industries were worth $32,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC increased its stake in ABM Industries by 16.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 48,830 shares of the business services provider’s stock valued at $2,305,000 after buying an additional 6,764 shares during the period. Strs Ohio acquired a new position in ABM Industries in the 1st quarter valued at approximately $1,004,000. Intech Investment Management LLC increased its stake in ABM Industries by 20.6% in the 1st quarter. Intech Investment Management LLC now owns 65,040 shares of the business services provider’s stock valued at $3,080,000 after buying an additional 11,108 shares during the period. Focus Partners Wealth acquired a new position in ABM Industries in the 1st quarter valued at approximately $477,000. Finally, Jane Street Group LLC increased its stake in ABM Industries by 592.0% in the 1st quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider’s stock valued at $6,640,000 after buying an additional 119,942 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Price Performance

NYSE ABM opened at $45.62 on Wednesday. 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 fifty day simple moving average of $47.09 and a 200 day simple moving average of $47.74. The company has a market cap of $2.79 billion, a P/E ratio of 24.79 and a beta of 0.78. ABM Industries Incorporated has a 1 year low of $40.85 and a 1 year high of $59.15.

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

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

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 2nd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 2nd. ABM Industries’s dividend payout ratio (DPR) is presently 57.61%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABM. UBS Group upped their price objective on shares of ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Truist Financial upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Robert W. Baird restated a “neutral” rating and set a $54.00 price target (down previously from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Baird R W lowered shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.67.

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.