Creative Planning Decreases Stock Position in ABM Industries Incorporated $ABM

Creative Planning reduced its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,924 shares of the business services provider’s stock after selling 3,701 shares during the quarter. Creative Planning’s holdings in ABM Industries were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABM. Summit Securities Group LLC acquired a new stake in shares of ABM Industries in the first quarter valued at approximately $38,000. Federated Hermes Inc. lifted its stake in ABM Industries by 107.7% in the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock valued at $44,000 after buying an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in ABM Industries during the 1st quarter valued at $45,000. Kiker Wealth Management LLC purchased a new position in ABM Industries during the second quarter worth $61,000. Finally, Virtus Advisers LLC purchased a new position in ABM Industries during the first quarter worth $64,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ABM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th. Baird R W lowered shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. UBS Group lifted their price target on shares of ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Finally, 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. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.67.

ABM Industries Price Performance

ABM opened at $43.00 on Friday. ABM Industries Incorporated has a 1 year low of $40.00 and a 1 year high of $57.93. The company’s 50 day simple moving average is $44.06 and its 200 day simple moving average is $46.71. The stock has a market capitalization of $2.63 billion, a PE ratio of 23.37 and a beta of 0.76. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 1.49.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results 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). The company had revenue of $2.22 billion for 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 period last year, the company posted $0.94 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. As a group, sell-side analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 2nd were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, October 2nd. ABM Industries’s payout ratio is 57.61%.

ABM Industries declared that its board has approved a share repurchase program on Friday, September 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.