ABM Industries Incorporated $ABM Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 17,941.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,089 shares of the business services provider's stock after purchasing an additional 46,828 shares during the quarter. Fifth Third Bancorp owned 0.08% of ABM Industries worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its holdings in 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 acquiring an additional 897,402 shares during the period. Norges Bank acquired a new stake in ABM Industries in the fourth quarter valued at $32,850,000. Millennium Management LLC lifted its holdings in ABM Industries by 883.5% in the third quarter. Millennium Management LLC now owns 672,200 shares of the business services provider's stock valued at $31,002,000 after acquiring an additional 603,853 shares during the period. Invesco Ltd. boosted its position in shares of ABM Industries by 31.7% during 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 in the last quarter. Finally, Simcoe Capital Management LLC purchased a new stake in shares of ABM Industries during the 2nd quarter worth $20,720,000. Institutional investors and hedge funds own 91.62% of the company's stock.

Insider Activity

In related news, CEO Scott B. Salmirs sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.34, for a total transaction of $2,317,000.00. Following the sale, the chief executive officer owned 395,285 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.90% of the company's stock.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $47.04 on Thursday. The business's fifty day moving average price is $43.25 and its two-hundred day moving average price is $42.55. The stock has a market cap of $2.76 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.23 and a beta of 0.70. 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 one year low of $36.96 and a one year high of $50.12.

ABM Industries (NYSE:ABM - Get Free Report) last released its quarterly earnings results on Friday, June 5th. The business services provider reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.02). The company had revenue of $2.29 billion during the quarter, compared to analyst estimates 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 firm earned $0.86 earnings per share. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. On average, analysts forecast that ABM Industries Incorporated will post 3.97 EPS for the current fiscal year.

ABM Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

ABM has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on shares of 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 shares of ABM Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 6th. One investment 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, ABM Industries presently has a consensus 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.

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