Tocqueville Asset Management L.P. Makes New Investment in ABM Industries Incorporated $ABM

Tocqueville Asset Management L.P. bought a new stake in ABM Industries Incorporated (NYSE:ABM) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 79,407 shares of the business services provider’s stock, valued at approximately $3,513,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Royal Bank of Canada raised its holdings in shares of ABM Industries by 0.4% during the 1st quarter. Royal Bank of Canada now owns 86,571 shares of the business services provider’s stock worth $4,100,000 after buying an additional 312 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ABM Industries by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,983 shares of the business services provider’s stock worth $1,752,000 after buying an additional 984 shares during the last quarter. Millennium Management LLC boosted its stake in ABM Industries by 2.2% in the first quarter. Millennium Management LLC now owns 79,533 shares of the business services provider’s stock valued at $3,767,000 after buying an additional 1,734 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in ABM Industries by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,038 shares of the business services provider’s stock valued at $8,527,000 after buying an additional 8,704 shares in the last quarter. Finally, Jane Street Group LLC grew its position in ABM Industries by 592.0% in the first quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider’s stock valued at $6,640,000 after acquiring an additional 119,942 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ABM shares. Robert W. Baird boosted their target price on ABM Industries from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Weiss Ratings upgraded shares of ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling

In other news, CEO Scott B. Salmirs sold 50,000 shares of ABM Industries stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.34, for a total transaction of $2,317,000.00. Following the sale, the chief executive officer directly owned 395,285 shares of the company’s stock, valued at approximately $18,317,506.90. This trade represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.90% of the company’s stock.

ABM Industries Stock Performance

NYSE ABM opened at $47.14 on Friday. The firm’s fifty day moving average price is $46.39 and its two-hundred day moving average price is $43.05. The stock has a market cap of $2.76 billion, a PE ratio of 18.13, a PEG ratio of 1.24 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.46 and a current ratio of 1.46. ABM Industries Incorporated has a fifty-two week low of $36.96 and a fifty-two week high of $50.12.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Friday, June 5th. The business services provider reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). ABM Industries had a net margin of 1.75% and a return on equity of 11.84%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. On average, equities analysts expect that ABM Industries Incorporated will post 3.97 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were given a $0.29 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $1.16 annualized dividend and a yield of 2.5%. ABM Industries’s dividend payout ratio (DPR) is currently 44.62%.

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.