Campbell & CO Investment Adviser LLC Makes New Investment in ABM Industries Incorporated $ABM

Campbell & CO Investment Adviser LLC bought a new stake in shares of ABM Industries Incorporated (NYSE:ABM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,794 shares of the business services provider’s stock, valued at approximately $226,000.

A number of other hedge funds also recently made changes to their positions in ABM. Parkside Financial Bank & Trust grew its position in ABM Industries by 18.0% during the second quarter. Parkside Financial Bank & Trust now owns 1,612 shares of the business services provider’s stock valued at $76,000 after buying an additional 246 shares during the period. Naples Global Advisors LLC boosted its stake in ABM Industries by 2.7% in the second quarter. Naples Global Advisors LLC now owns 11,370 shares of the business services provider’s stock valued at $537,000 after acquiring an additional 304 shares during the last quarter. Royal Bank of Canada boosted its stake in ABM Industries by 0.4% in the first quarter. Royal Bank of Canada now owns 86,571 shares of the business services provider’s stock valued at $4,100,000 after acquiring an additional 312 shares during the last quarter. HighTower Advisors LLC grew its position in shares of ABM Industries by 1.8% during the 1st quarter. HighTower Advisors LLC now owns 20,398 shares of the business services provider’s stock valued at $966,000 after acquiring an additional 362 shares during the period. Finally, Brighton Jones LLC increased its stake in shares of ABM Industries by 5.3% during the 2nd quarter. Brighton Jones LLC now owns 7,344 shares of the business services provider’s stock worth $347,000 after purchasing an additional 371 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors.

ABM Industries Trading Down 4.3%

Shares of ABM Industries stock opened at $40.27 on Tuesday. The company’s 50-day moving average price is $44.68 and its 200-day moving average price is $47.18. 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 $40.24 and a 12-month high of $58.18. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 21.88 and a beta of 0.76.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Friday, September 5th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.13). ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm posted $0.94 EPS. ABM Industries’s revenue was up 6.2% on a year-over-year basis. 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 earnings per share for the current fiscal year.

ABM Industries declared that its board has approved a stock buyback program on Friday, September 5th that allows the company to buyback $150.00 million in 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 typically an indication that the company’s leadership believes its shares are undervalued.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd were issued 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 2.6%. ABM Industries’s dividend payout ratio is presently 57.61%.

Analysts Set New Price Targets

Several research firms recently commented on ABM. UBS Group upped their price objective on ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ABM Industries in a research report on Wednesday, October 8th. Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Robert W. Baird restated a “neutral” rating and issued a $54.00 price objective (down from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Finally, Baird R W lowered shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, ABM Industries has a consensus rating of “Hold” and a consensus target price 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.