Scott Salmirs Sells 50,000 Shares of ABM Industries (NYSE:ABM) Stock

ABM Industries Incorporated (NYSE:ABM) CEO Scott Salmirs sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.34, for a total value of $2,317,000.00. Following the completion of the transaction, the chief executive officer directly owned 395,285 shares in the company, valued at $18,317,506.90. This trade represents a 11.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ABM Industries Stock Down 0.4%

NYSE ABM opened at $45.97 on Friday. The stock’s 50-day moving average price is $40.27 and its 200-day moving average price is $42.30. The company has a quick ratio of 1.50, a current ratio of 1.46 and a debt-to-equity ratio of 1.04. ABM Industries Incorporated has a 52 week low of $36.96 and a 52 week high of $50.12. The company has a market capitalization of $2.69 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 1.20 and a beta of 0.72.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Friday, June 5th. The business services provider reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the business earned $0.86 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. On average, equities research analysts predict that ABM Industries Incorporated will post 3.96 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.16 annualized dividend and a dividend yield of 2.5%. ABM Industries’s dividend payout ratio (DPR) is 44.62%.

Institutional Trading of ABM Industries

Several institutional investors have recently made changes to their positions in ABM. Ameriprise Financial Inc. grew its position in shares of ABM Industries by 419.5% during the third quarter. Ameriprise Financial Inc. now owns 1,111,320 shares of the business services provider’s stock worth $51,254,000 after purchasing an additional 897,402 shares in the last quarter. Norges Bank purchased a new stake in shares of ABM Industries during the fourth quarter worth about $32,850,000. Millennium Management LLC grew its position in shares of ABM Industries by 883.5% during the third quarter. Millennium Management LLC now owns 672,200 shares of the business services provider’s stock worth $31,002,000 after purchasing an additional 603,853 shares in the last quarter. Invesco Ltd. grew its position in shares of ABM Industries by 31.7% during the third quarter. Invesco Ltd. now owns 2,390,863 shares of the business services provider’s stock worth $110,267,000 after purchasing an additional 575,273 shares in the last quarter. Finally, Simcoe Capital Management LLC purchased a new stake in shares of ABM Industries during the second quarter worth about $20,720,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ABM shares. UBS Group decreased their price objective on ABM Industries from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 11th. Truist Financial decreased their price objective on ABM Industries from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, March 11th. Weiss Ratings cut ABM Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Robert W. Baird increased their target price on ABM Industries from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Finally, Maxim Group upgraded ABM Industries from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday, March 11th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ABM Industries presently has an average rating of “Hold” and an average price target of $47.00.

ABM Industries Company Profile

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.