ABM Industries Incorporated (NYSE:ABM) Sees Significant Drop in Short Interest

Key Points

• Short interest fell 21.6% in March to 1,752,364 shares (about 3.0% of the float) with a days-to-cover ratio of 2.2.
• ABM reported Q EPS of $0.83, missing estimates by $0.04 while revenue beat at $2.24B; the company set FY26 guidance of $3.85–$4.15 EPS and the MarketBeat consensus price target is $46.25 (one Buy, four Hold ratings).
• ABM declared a quarterly dividend of $0.29 (annualized $1.16), implying a 2.9% yield, with an ex-dividend date of April 2 and payment on May 4.

ABM Industries Incorporated (NYSE:ABM - Get Free Report) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 1,752,364 shares, a decline of 21.6% from the March 15th total of 2,236,353 shares. Based on an average daily volume of 814,026 shares, the days-to-cover ratio is currently 2.2 days. Currently, 3.0% of the shares of the stock are sold short.

Institutional Trading of ABM Industries

A number of hedge funds and other institutional investors have recently modified their holdings of ABM. Caitong International Asset Management Co. Ltd raised its holdings in ABM Industries by 590.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider's stock valued at $28,000 after buying an additional 520 shares during the period. First Horizon Corp boosted its stake in ABM Industries by 141.4% during the fourth quarter. First Horizon Corp now owns 886 shares of the business services provider's stock worth $37,000 after buying an additional 519 shares during the period. Quarry LP boosted its stake in ABM Industries by 667.0% during the third quarter. Quarry LP now owns 882 shares of the business services provider's stock worth $41,000 after buying an additional 767 shares during the period. Covestor Ltd increased its position in shares of ABM Industries by 89.1% during the fourth quarter. Covestor Ltd now owns 1,055 shares of the business services provider's stock valued at $45,000 after acquiring an additional 497 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of ABM Industries during the fourth quarter valued at about $46,000. 91.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABM has been the topic of several research reports. Robert W. Baird decreased their price target on shares of ABM Industries from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 11th. Maxim Group raised shares of ABM Industries from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research note on Wednesday, March 11th. UBS Group decreased their target price on shares of 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 lowered their target price on ABM Industries from $47.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, March 11th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of ABM Industries in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, ABM Industries currently has an average rating of "Hold" and a consensus price target of $46.25.

ABM Industries Trading Down 0.7%

NYSE:ABM traded down $0.27 on Thursday, hitting $39.46. The stock had a trading volume of 293,347 shares, compared to its average volume of 614,587. The company has a fifty day moving average price of $41.55 and a two-hundred day moving average price of $43.27. ABM Industries has a 1-year low of $36.96 and a 1-year high of $52.94. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 15.53 and a beta of 0.74.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 10th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.04). ABM Industries had a return on equity of 11.77% and a net margin of 1.78%.The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the business earned $0.87 EPS. The firm's quarterly revenue was up 6.1% on a year-over-year basis. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. Equities research analysts expect that ABM Industries will post 3.71 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Thursday, April 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, April 2nd. ABM Industries's dividend payout ratio is 45.67%.

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.

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