Ieq Capital LLC Acquires Shares of 72,020 ABM Industries Incorporated $ABM

Ieq Capital LLC bought a new position in ABM Industries Incorporated (NYSE:ABM) in the 2nd quarter, Holdings Channel reports. The firm bought 72,020 shares of the business services provider’s stock, valued at approximately $3,186,000.

Several other hedge funds also recently added to or reduced their stakes in ABM. BlackRock Inc. purchased a new stake in ABM Industries in the 2nd quarter worth about $410,948,000. Pzena Investment Management LLC bought a new position in shares of ABM Industries during the second quarter valued at approximately $79,995,000. Ameriprise Financial Inc. grew its stake 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 valued at $51,254,000 after buying an additional 897,402 shares during the last quarter. Norges Bank purchased a new stake in shares of ABM Industries in the fourth quarter worth approximately $32,850,000. Finally, Millennium Management LLC raised its holdings in shares of ABM Industries by 883.5% in the third quarter. Millennium Management LLC now owns 672,200 shares of the business services provider’s stock worth $31,002,000 after buying an additional 603,853 shares during the period. 91.62% of the stock is currently owned by institutional investors.

ABM Industries Price Performance

ABM Industries stock opened at $46.87 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.23 and a beta of 0.69. The firm has a 50-day moving average of $46.47 and a two-hundred day moving average of $43.06. ABM Industries Incorporated has a 1 year low of $36.96 and a 1 year high of $50.12.

ABM Industries (NYSE:ABM) last issued its 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). The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.21 billion. ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. On average, research analysts forecast that ABM Industries Incorporated will post 3.97 earnings per share for the current 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 dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 2.5%. ABM Industries’s payout ratio is 44.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. 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 note on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.00.

Insiders Place Their Bets

In other ABM Industries news, CEO Scott B. Salmirs sold 50,000 shares of ABM Industries stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 395,285 shares of the company’s stock, valued at $18,317,506.90. The trade was a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is currently owned by company insiders.

ABM Industries 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.