Inspire Investing LLC Purchases 1,079 Shares of ABM Industries Incorporated $ABM

by · The Markets Daily

Inspire Investing LLC increased its position in ABM Industries Incorporated (NYSE:ABM – Free Report) by 14.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,318 shares of the business services provider’s stock after acquiring an additional 1,079 shares during the period. Inspire Investing LLC’s holdings in ABM Industries were worth $393,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of ABM Industries in the first quarter worth $38,000. Federated Hermes Inc. grew its holdings in ABM Industries by 107.7% during the first 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. Caitong International Asset Management Co. Ltd bought a new stake in ABM Industries during the first quarter valued at about $45,000. Virtus Advisers LLC bought a new stake in ABM Industries during the first quarter valued at about $64,000. Finally, US Bancorp DE grew its holdings in ABM Industries by 3,410.5% during the first quarter. US Bancorp DE now owns 4,353 shares of the business services provider’s stock valued at $206,000 after purchasing an additional 4,229 shares during the period. Institutional investors own 91.62% of the company’s stock.

ABM Industries Price Performance

Shares of ABM Industries stock opened at $45.04 on Tuesday. The stock’s 50-day simple moving average is $47.00 and its 200-day simple moving average is $47.67. ABM Industries Incorporated has a 52 week low of $40.85 and a 52 week high of $59.15. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 24.48 and a beta of 0.78. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.82.

ABM Industries (NYSE:ABM – Get Free Report) last announced 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 business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. 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. As a group, analysts expect that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, October 2nd. ABM Industries’s payout ratio is currently 57.61%.

ABM Industries announced 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 usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

ABM has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of ABM Industries in a report on Wednesday, October 8th. UBS Group boosted their price target on ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a report on Monday, September 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 reissued a “neutral” rating and set a $54.00 price target (down previously from $56.00) on shares of ABM Industries in a report on Monday, September 8th. Finally, Baird R W lowered ABM Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, ABM Industries presently has an average rating of “Hold” and a consensus price target of $55.67.

Check Out Our Latest Analysis on ABM

ABM Industries Profile

(Free Report)

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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