Here’s What Makes ABM Industries Incorporated (ABM) a Worthy Investment

Investment management company Vulcan Value Partners recently released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The firm has five strategies, and all trailed their benchmark indexes in 2022. In the fourth quarter, the fund’s Large-Cap Composite returned 8.2% net of fees and expenses, the Small Cap Composite returned 11.2% net, Focus Composite returned 7.6% net, the Focus Plus composite returned 7.7%, and All Cap Composite returned 7.2% net. You can check the top 5 holdings of the fund to know its best picks in 2022.

Vulcan Value Partners highlighted stocks like ABM Industries Incorporated (NYSE:ABM) in the fourth quarter 2022 investor letter. Headquartered in New York, New York, ABM Industries Incorporated (NYSE:ABM) is a facilities solutions company. On February 9, 2023, ABM Industries Incorporated (NYSE:ABM) stock closed at $46.35 per share. One-month return of ABM Industries Incorporated (NYSE:ABM) was 0.83% and its shares gained 13.85% of their value over the last 52 weeks. ABM Industries Incorporated (NYSE:ABM) has a market capitalization of $3.041 billion.

Vulcan Value Partners made the following comment about ABM Industries Incorporated (NYSE:ABM) in its Q4 2022 investor letter:

“ABM Industries Incorporated (NYSE:ABM) is a building services company providing janitorial services, parking, and facilities management. The company produces strong free cash flow and has grown at a mid-single digit rate. In our opinion, the management team did a good job managing through the pandemic and has improved profitability over time. We are pleased to add it to the portfolio with a margin of safety in terms of price compared to our estimate of intrinsic worth.”

ABM Industries Incorporated (NYSE:ABM) is not our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held ABM Industries Incorporated (NYSE:ABM) at the end of the third quarter, which was 13 in the previous quarter.

We discussed ABM Industries Incorporated (NYSE:ABM) in another article and shared the list of biggest commercial janitorial companies in USA. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.