Teacher Retirement System of Texas Decreases Position in ABM Industries Incorporated $ABM

Teacher Retirement System of Texas decreased its holdings in ABM Industries Incorporated (NYSE:ABM) by 16.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,454 shares of the business services provider’s stock after selling 1,870 shares during the period. Teacher Retirement System of Texas’ holdings in ABM Industries were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Naples Global Advisors LLC grew its stake in ABM Industries by 2.7% during the 2nd quarter. Naples Global Advisors LLC now owns 11,370 shares of the business services provider’s stock worth $537,000 after purchasing an additional 304 shares in the last quarter. Royal Bank of Canada grew its position in shares of ABM Industries by 0.4% during the first quarter. Royal Bank of Canada now owns 86,571 shares of the business services provider’s stock worth $4,100,000 after buying an additional 312 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of ABM Industries by 1.8% during the first quarter. HighTower Advisors LLC now owns 20,398 shares of the business services provider’s stock worth $966,000 after buying an additional 362 shares during the period. Brighton Jones LLC raised its holdings in ABM Industries by 5.3% in the second quarter. Brighton Jones LLC now owns 7,344 shares of the business services provider’s stock valued at $347,000 after acquiring an additional 371 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in ABM Industries by 3.8% in the second quarter. Verdence Capital Advisors LLC now owns 10,388 shares of the business services provider’s stock valued at $490,000 after acquiring an additional 376 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Stock Down 0.1%

ABM opened at $41.94 on Monday. ABM Industries Incorporated has a one year low of $40.85 and a one year high of $59.15. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $2.57 billion, a P/E ratio of 22.80 and a beta of 0.76. The business’s 50-day simple moving average is $45.44 and its 200-day simple moving average is $47.46.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, September 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries declared that its board has approved a share repurchase plan on Friday, September 5th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 2nd were paid a dividend of $0.265 per share. The ex-dividend date was Thursday, October 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 2.5%. ABM Industries’s dividend payout ratio is currently 57.61%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Robert W. Baird reissued a “neutral” rating and issued a $54.00 price objective (down from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. Baird R W lowered ABM Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th. UBS Group upped 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. Finally, Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, ABM Industries currently has a consensus rating of “Hold” and an average 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.