10,877 ABM Industries Incorporated $ABM Shares Sold by State of Alaska Department of Revenue

by · The Cerbat Gem

State of Alaska Department of Revenue trimmed its holdings in shares of ABM Industries Incorporated (NYSE:ABM – Free Report) by 47.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,116 shares of the business services provider’s stock after selling 10,877 shares during the quarter. State of Alaska Department of Revenue’s holdings in ABM Industries were worth $582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in ABM Industries in the second quarter valued at about $410,948,000. Dimensional Fund Advisors LP boosted its stake in ABM Industries by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,076,047 shares of the business services provider’s stock worth $157,007,000 after buying an additional 24,213 shares during the period. Pzena Investment Management LLC purchased a new position in ABM Industries during the second quarter worth about $79,995,000. Copeland Capital Management LLC increased its position in shares of ABM Industries by 70.8% during the third quarter. Copeland Capital Management LLC now owns 707,210 shares of the business services provider’s stock valued at $34,017,000 after acquiring an additional 293,172 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of ABM Industries during the second quarter valued at about $24,486,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Price Performance

ABM opened at $53.75 on Friday. The stock’s 50-day moving average price is $49.06 and its 200 day moving average price is $45.27. ABM Industries Incorporated has a 12-month low of $36.96 and a 12-month high of $54.13. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.97. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.50 and a beta of 0.64.

ABM Industries (NYSE:ABM – Get Free Report) last announced its earnings results on Tuesday, September 8th. The business services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. ABM Industries had a return on equity of 12.46% and a net margin of 1.82%. ABM Industries’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. As a group, sell-side analysts expect that ABM Industries Incorporated will post 4.00 earnings per share for the current year.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.16 annualized dividend and a dividend yield of 2.2%. ABM Industries’s dividend payout ratio (DPR) is presently 41.88%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABM. UBS Group upped their price objective on shares of ABM Industries from $45.00 to $51.50 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Weiss Ratings raised shares of ABM Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, October 13th. Robert W. Baird increased their price objective on shares of ABM Industries from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Truist Financial lifted their target price on shares of ABM Industries from $45.00 to $49.00 and gave the company a “hold” rating in a report on Monday, September 14th. Finally, Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.88.

Check Out Our Latest Stock Analysis on ABM Industries

About ABM Industries

(Free Report)

ABM Industries Incorporated (NYSE: ABM) is a provider of facility, aviation and transportation, and infrastructure solutions for commercial, industrial, institutional and public-sector customers. The company helps organizations operate and maintain their properties through services that include janitorial and custodial work, facility engineering, HVAC and electrical support, parking and transportation management, landscaping, and security-related solutions.

ABM also provides specialized services for airports, education and healthcare institutions, manufacturing and distribution facilities, data centers, sports and entertainment venues, and other complex environments.

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