Edgestream Partners L.P. Trims Stock Holdings in ABM Industries Incorporated $ABM

Edgestream Partners L.P. lowered its holdings in ABM Industries Incorporated (NYSE:ABM) by 28.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,890 shares of the business services provider’s stock after selling 35,591 shares during the period. Edgestream Partners L.P. owned approximately 0.14% of ABM Industries worth $4,149,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cetera Investment Advisers raised its holdings in ABM Industries by 6.3% during the 1st quarter. Cetera Investment Advisers now owns 7,264 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 430 shares during the period. Federated Hermes Inc. raised its stake in shares of ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 477 shares during the period. US Bancorp DE lifted its holdings in ABM Industries by 3,410.5% during the 1st quarter. US Bancorp DE now owns 4,353 shares of the business services provider’s stock worth $206,000 after purchasing an additional 4,229 shares in the last quarter. Invesco Ltd. boosted its stake in ABM Industries by 17.8% in the 1st quarter. Invesco Ltd. now owns 1,786,926 shares of the business services provider’s stock worth $84,629,000 after purchasing an additional 269,410 shares during the period. Finally, Nuveen LLC bought a new position in ABM Industries in the 1st quarter worth about $24,941,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $43.90 on Thursday. The company’s fifty day moving average price is $43.93 and its 200-day moving average price is $46.49. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 23.86 and a beta of 0.74. ABM Industries Incorporated has a one year low of $40.00 and a one year high of $57.93.

ABM Industries (NYSE:ABM) last announced its 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). ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The firm’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 research analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries announced that its Board of Directors has initiated a stock buyback program on Friday, September 5th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the business services provider to buy up to 5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 2nd were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, October 2nd. ABM Industries’s dividend payout ratio (DPR) is currently 57.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ABM shares. Robert W. Baird reiterated a “neutral” rating and set a $54.00 price target (down from $56.00) on shares of ABM Industries in a research report on Monday, September 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. Weiss Ratings reissued a “hold (c)” rating on shares of ABM Industries in a report on Wednesday, October 8th. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Finally, UBS Group increased their price objective 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 research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, ABM Industries has an average 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.