Vanguard Group Inc. Lowers Stock Position in ABM Industries Incorporated $ABM

Vanguard Group Inc. cut its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 3.6% during the third quarter, Holdings Channel.com reports. The fund owned 7,598,946 shares of the business services provider’s stock after selling 280,226 shares during the period. Vanguard Group Inc. owned about 0.12% of ABM Industries worth $350,463,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ABM. Parkside Financial Bank & Trust grew its holdings in ABM Industries by 18.0% in the second quarter. Parkside Financial Bank & Trust now owns 1,612 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 246 shares during the period. Cornerstone Wealth Management LLC raised its stake in shares of ABM Industries by 2.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 11,022 shares of the business services provider’s stock worth $508,000 after buying an additional 247 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of ABM Industries by 4.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,506 shares of the business services provider’s stock valued at $300,000 after buying an additional 248 shares in the last quarter. Arizona State Retirement System grew its stake in ABM Industries by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 18,422 shares of the business services provider’s stock valued at $850,000 after acquiring an additional 260 shares during the period. Finally, MQS Management LLC grew its stake in ABM Industries by 6.0% in the 3rd quarter. MQS Management LLC now owns 5,177 shares of the business services provider’s stock valued at $239,000 after acquiring an additional 292 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Stock Up 2.4%

Shares of ABM opened at $44.81 on Friday. ABM Industries Incorporated has a 52-week low of $40.00 and a 52-week high of $54.90. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.86. The stock has a fifty day simple moving average of $44.55 and a two-hundred day simple moving average of $45.09. The company has a market capitalization of $2.63 billion, a PE ratio of 17.30 and a beta of 0.75.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 17th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.21). ABM Industries had a net margin of 1.86% and a return on equity of 11.96%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. ABM Industries has set its FY 2026 guidance at 3.850-4.15 EPS. As a group, equities analysts forecast that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Wednesday, January 14th were paid a $0.29 dividend. This is a positive change from ABM Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.6%. ABM Industries’s dividend payout ratio is currently 44.79%.

Analysts Set New Price Targets

A number of research firms have recently commented on ABM. Weiss Ratings reissued a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, January 21st. Truist Financial reaffirmed a “hold” rating and issued a $47.00 price target (down from $58.00) on shares of ABM Industries in a research note on Wednesday, January 21st. Wall Street Zen lowered ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $51.00 price target (down from $55.00) on shares of ABM Industries in a research note on Thursday, December 18th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, ABM Industries presently has an average rating of “Hold” and an average target price of $50.67.

Insider Activity

In other news, COO Rene Jacobsen sold 31,034 shares of ABM Industries stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $44.12, for a total transaction of $1,369,220.08. Following the sale, the chief operating officer owned 51,714 shares of the company’s stock, valued at approximately $2,281,621.68. The trade was a 37.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

About ABM Industries

ABM Industries Incorporated is a leading provider of integrated facility services, offering a comprehensive suite of solutions designed to support the operation, maintenance and enhancement of commercial properties. The company’s core services include janitorial and custodial maintenance, HVAC and mechanical systems support, electrical and lighting solutions, and energy optimization. Additional offerings span parking management, security services, landscaping, and specialized support such as technical solutions and sustainability consulting.

Serving a diverse range of markets, ABM caters to clients in commercial real estate, aviation, healthcare, manufacturing, education, government entities, and technology campuses.