Pacer Advisors Inc. Buys Shares of 330,704 ABM Industries Incorporated $ABM

Pacer Advisors Inc. purchased a new position in ABM Industries Incorporated (NYSE:ABM) during the 1st quarter, Holdings Channel reports. The fund purchased 330,704 shares of the business services provider’s stock, valued at approximately $12,739,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. grew its position in shares of ABM Industries by 419.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,111,320 shares of the business services provider’s stock valued at $51,254,000 after acquiring an additional 897,402 shares during the period. Norges Bank purchased a new stake in shares of ABM Industries in the 4th quarter worth $32,850,000. Millennium Management LLC raised its holdings in ABM Industries by 883.5% in the 3rd 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 during the period. Invesco Ltd. raised its holdings in ABM Industries by 31.7% in the 3rd 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 during the period. Finally, Simcoe Capital Management LLC purchased a new position in ABM Industries during the second quarter valued at $20,720,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

ABM opened at $49.09 on Wednesday. The firm has a market cap of $2.88 billion, a P/E ratio of 18.88, a PEG ratio of 1.28 and a beta of 0.69. ABM Industries Incorporated has a 1-year low of $36.96 and a 1-year high of $50.12. The company has a 50 day simple moving average of $44.80 and a two-hundred day simple moving average of $42.83. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.46 and a quick ratio of 1.46.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Friday, June 5th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $2.29 billion during 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 for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. Equities analysts forecast that ABM Industries Incorporated will post 3.97 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, July 2nd. ABM Industries’s dividend payout ratio is presently 44.62%.

Insider Transactions at ABM Industries

In other ABM Industries news, CEO Scott B. 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 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 $18,317,506.90. This trade represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Robert W. Baird boosted their price target on ABM Industries from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Weiss Ratings raised ABM Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. 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, ABM Industries has a consensus rating of “Hold” and a consensus target price of $47.00.

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.