Y Intercept Hong Kong Ltd Acquires Shares of 19,339 ABM Industries Incorporated $ABM

Y Intercept Hong Kong Ltd acquired a new stake in ABM Industries Incorporated (NYSE:ABM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 19,339 shares of the business services provider’s stock, valued at approximately $913,000.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in ABM Industries by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 347,496 shares of the business services provider’s stock valued at $16,457,000 after purchasing an additional 5,880 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of ABM Industries by 20.6% during the first quarter. Intech Investment Management LLC now owns 65,040 shares of the business services provider’s stock valued at $3,080,000 after purchasing an additional 11,108 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of ABM Industries by 12.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 693 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of ABM Industries during the second quarter valued at approximately $6,380,000. Finally, Victory Capital Management Inc. grew its stake in shares of ABM Industries by 28.5% during the first quarter. Victory Capital Management Inc. now owns 175,453 shares of the business services provider’s stock valued at $8,309,000 after purchasing an additional 38,959 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABM. Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a research report on Wednesday, October 8th. Robert W. Baird restated a “neutral” rating and set a $54.00 target price (down previously from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. Baird R W downgraded ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Wall Street Zen upgraded ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Finally, UBS Group boosted their target price on ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, ABM Industries presently has a consensus rating of “Hold” and a consensus target price of $55.67.

ABM Industries Trading Down 0.3%

NYSE ABM opened at $43.09 on Wednesday. The stock has a 50-day simple moving average of $45.85 and a 200 day simple moving average of $47.56. The company has a market capitalization of $2.64 billion, a PE ratio of 23.42 and a beta of 0.78. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. ABM Industries Incorporated has a 12 month low of $40.85 and a 12 month high of $59.15.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, September 5th. The business services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Research analysts forecast that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries announced that its Board of Directors has initiated a stock repurchase program 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 programs are typically a sign that the company’s board of directors believes its shares are undervalued.

ABM Industries Dividend Announcement

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

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.