LSV Asset Management Acquires 16,530 Shares of ABM Industries Incorporated $ABM

LSV Asset Management raised its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,402,702 shares of the business services provider's stock after buying an additional 16,530 shares during the quarter. LSV Asset Management owned about 2.25% of ABM Industries worth $66,222,000 as of its most recent SEC filing.

• ABM Industries Stock: A Dividend King at a Discount

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Invesco Ltd. raised its stake in ABM Industries by 17.8% during the 1st quarter. Invesco Ltd. now owns 1,786,926 shares of the business services provider's stock valued at $84,629,000 after purchasing an additional 269,410 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of ABM Industries by 34.4% during the 1st quarter. American Century Companies Inc. now owns 1,590,497 shares of the business services provider's stock worth $75,326,000 after purchasing an additional 406,802 shares during the period. Geode Capital Management LLC raised its position in shares of ABM Industries by 0.7% during the second quarter. Geode Capital Management LLC now owns 1,502,219 shares of the business services provider's stock valued at $70,928,000 after buying an additional 10,182 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of ABM Industries by 13.5% in the second quarter. Pzena Investment Management LLC now owns 963,943 shares of the business services provider's stock valued at $45,508,000 after buying an additional 114,485 shares during the period. Finally, Boston Partners grew its position in ABM Industries by 26.1% during the second quarter. Boston Partners now owns 808,479 shares of the business services provider's stock worth $38,143,000 after buying an additional 167,128 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company's stock.

ABM Industries Stock Performance

ABM Industries stock opened at $40.27 on Tuesday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 21.88 and a beta of 0.76. The stock has a fifty day moving average price of $44.68 and a two-hundred day moving average price of $47.18. ABM Industries Incorporated has a 52-week low of $40.24 and a 52-week high of $58.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49.

• Dividend King ABM Industries is on Track for New Highs

ABM Industries (NYSE:ABM - Get Free Report) last issued its 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 firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. As a group, analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, October 2nd. ABM Industries's dividend payout ratio (DPR) is 57.61%.

• Diversified Dividend Compounder ABM Industries Moves Higher

ABM Industries declared that its Board of Directors has initiated a share buyback program on Friday, September 5th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ABM has been the subject of several recent research reports. Robert W. Baird reaffirmed a "neutral" rating and issued a $54.00 price target (down previously from $56.00) on shares of ABM Industries in a report on Monday, September 8th. Baird R W lowered ABM Industries from a "strong-buy" rating to a "hold" 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 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 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. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $55.67.

Get Our Latest Stock Analysis on ABM Industries

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.

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