Inceptionr LLC Purchases 2,755 Shares of ABM Industries Incorporated $ABM

Inceptionr LLC lifted its position in shares of ABM Industries Incorporated (NYSE:ABM) by 56.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,652 shares of the business services provider’s stock after acquiring an additional 2,755 shares during the quarter. Inceptionr LLC’s holdings in ABM Industries were worth $361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABM. Summit Securities Group LLC acquired a new stake in shares of ABM Industries during the first quarter valued at about $38,000. Federated Hermes Inc. increased its stake in shares of ABM Industries by 107.7% in the first 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 during the period. Caitong International Asset Management Co. Ltd bought a new position in ABM Industries in the 1st quarter valued at approximately $45,000. Kiker Wealth Management LLC bought a new position in ABM Industries in the 2nd quarter valued at approximately $61,000. Finally, Virtus Advisers LLC acquired a new stake in ABM Industries during the 1st quarter worth approximately $64,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABM. Wall Street Zen upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Baird R W cut shares of 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. Robert W. Baird reaffirmed a “neutral” rating and set a $54.00 target price (down from $56.00) on shares of ABM Industries in a report on Monday, September 8th. Finally, UBS Group upped their price target on ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a research report 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.67.

ABM Industries Stock Performance

Shares of ABM opened at $43.00 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. The firm’s fifty day simple moving average is $44.06 and its two-hundred day simple moving average is $46.71. ABM Industries Incorporated has a 12 month low of $40.00 and a 12 month high of $57.93. The stock has a market capitalization of $2.63 billion, a P/E ratio of 23.37 and a beta of 0.76.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Friday, September 5th. The business services provider reported $0.82 earnings per share 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 business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the business posted $0.94 earnings per share. The business’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 predict that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

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

ABM Industries declared that its board has initiated a share buyback plan 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 plans are often a sign that the company’s leadership believes its shares are undervalued.

ABM Industries Company Profile

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.