Kiker Wealth Management LLC Buys Shares of 1,295 ABM Industries Incorporated $ABM

Kiker Wealth Management LLC bought a new stake in ABM Industries Incorporated (NYSE:ABM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,295 shares of the business services provider’s stock, valued at approximately $61,000.

Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in ABM Industries in the 1st quarter valued at about $38,000. Federated Hermes Inc. boosted its stake in shares of 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 purchasing an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of ABM Industries in the 1st quarter valued at approximately $45,000. Virtus Advisers LLC acquired a new stake in shares of ABM Industries in the 1st quarter valued at approximately $64,000. Finally, US Bancorp DE boosted its stake in shares of ABM Industries by 3,410.5% in the 1st 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 in the last quarter. 91.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ABM has been the topic of a number of research analyst reports. Truist Financial upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and raised their price target for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Baird R W downgraded shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. UBS Group raised their price target 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. Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th. Finally, Robert W. Baird restated a “neutral” rating and issued a $54.00 price target (down from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ABM Industries presently has an average rating of “Hold” and an average price target of $55.67.

ABM Industries Stock Up 1.3%

NYSE:ABM opened at $45.04 on Tuesday. The firm’s 50 day simple moving average is $47.00 and its 200 day simple moving average is $47.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. ABM Industries Incorporated has a one year low of $40.85 and a one year high of $59.15. The company has a market cap of $2.76 billion, a PE ratio of 24.48 and a beta of 0.78.

ABM Industries (NYSE:ABM) last posted 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). 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The firm’s quarterly 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, research analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Dividend Announcement

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

ABM Industries declared that its Board of Directors has initiated a share buyback 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 reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board 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.