Cerity Partners LLC Acquires New Shares in ABM Industries Incorporated (NYSE:ABM)

Posted by Defense World Staff on Sep 4th, 2023

Cerity Partners LLC bought a new position in ABM Industries Incorporated (NYSE:ABM – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,970 shares of the business services provider’s stock, valued at approximately $932,000.

Other hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. acquired a new position in ABM Industries in the 1st quarter worth about $284,000. Bank of Montreal Can increased its stake in shares of ABM Industries by 2.2% in the first quarter. Bank of Montreal Can now owns 21,837 shares of the business services provider’s stock valued at $1,000,000 after buying an additional 473 shares during the period. MetLife Investment Management LLC raised its holdings in ABM Industries by 53.8% in the 1st quarter. MetLife Investment Management LLC now owns 35,527 shares of the business services provider’s stock valued at $1,636,000 after buying an additional 12,425 shares during the last quarter. Rhumbline Advisers boosted its position in ABM Industries by 2.2% during the 1st quarter. Rhumbline Advisers now owns 193,026 shares of the business services provider’s stock worth $8,887,000 after buying an additional 4,196 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in ABM Industries by 2.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 60,453 shares of the business services provider’s stock worth $2,860,000 after acquiring an additional 1,246 shares during the last quarter. 86.42% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Trading Up 0.9 %

NYSE:ABM opened at $45.81 on Monday. ABM Industries Incorporated has a 52 week low of $37.68 and a 52 week high of $49.58. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.53 and a current ratio of 1.53. The firm’s fifty day moving average is $44.26 and its 200-day moving average is $44.36. The firm has a market cap of $3.03 billion, a P/E ratio of 15.58 and a beta of 1.07.

ABM Industries (NYSE:ABM – Get Free Report) last released its earnings results on Tuesday, June 6th. The business services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2 billion. ABM Industries had a return on equity of 13.63% and a net margin of 2.47%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. Equities analysts expect that ABM Industries Incorporated will post 3.51 earnings per share for the current year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Thursday, July 6th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.92%. ABM Industries’s dividend payout ratio (DPR) is presently 29.93%.

Wall Street Analysts Forecast Growth

ABM has been the topic of a number of recent research reports. UBS Group assumed coverage on shares of ABM Industries in a report on Wednesday, May 31st. They set a “neutral” rating and a $48.00 price target on the stock. StockNews.com started coverage on ABM Industries in a research report on Thursday, August 17th. They issued a “hold” rating on the stock.

View Our Latest Stock Report 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. The company operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.