ABM Industries Incorporated $ABM Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in ABM Industries by 192.1% in the fourth quarter, bringing its holdings to 42,034 shares valued at about $1.8 million. Institutional ownership remains very high, with hedge funds and other institutions owning 91.62% of the company.
• ABM Industries reported quarterly revenue of $2.29 billion, topping expectations, but earnings per share of $0.90 missed analysts’ estimate of $0.92. The company also issued FY 2026 EPS guidance of 3.85 to 4.15.
• The company declared a quarterly dividend of $0.29 per share, or $1.16 annualized, for a yield of 2.6%. Meanwhile, CEO Scott B. Salmirs sold 50,000 shares in June under a pre-arranged trading plan.

Hsbc Holdings PLC boosted its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 192.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,034 shares of the business services provider's stock after buying an additional 27,643 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of ABM Industries worth $1,785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its holdings in ABM Industries by 419.5% in 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 purchasing an additional 897,402 shares during the last quarter. Norges Bank acquired a new position in shares of ABM Industries in the 4th quarter valued at about $32,850,000. Millennium Management LLC lifted its holdings in shares of ABM Industries by 883.5% in the 3rd quarter. Millennium Management LLC now owns 672,200 shares of the business services provider's stock valued at $31,002,000 after buying an additional 603,853 shares during the period. Invesco Ltd. raised its position in ABM Industries by 31.7% during the third quarter. Invesco Ltd. now owns 2,390,863 shares of the business services provider's stock valued at $110,267,000 after acquiring an additional 575,273 shares in the last quarter. Finally, Simcoe Capital Management LLC acquired a new position in ABM Industries in the second quarter valued at approximately $20,720,000. Institutional investors and hedge funds own 91.62% of the company's stock.

ABM Industries Price Performance

Shares of ABM Industries stock opened at $44.19 on Wednesday. The stock has a market capitalization of $2.59 billion, a P/E ratio of 17.00, a PEG ratio of 1.17 and a beta of 0.72. The business has a 50 day simple moving average of $41.49 and a two-hundred day simple moving average of $42.34. ABM Industries Incorporated has a 12 month low of $36.96 and a 12 month high of $50.12. 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 - Get Free Report) last issued its quarterly earnings results on Friday, June 5th. The business services provider reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. As a group, analysts predict that ABM Industries Incorporated will post 3.97 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd will be issued a $0.29 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 2.6%. ABM Industries's dividend payout ratio is presently 44.62%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings lowered shares of ABM Industries from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 4th. UBS Group lowered their price target on shares of ABM Industries from $51.00 to $45.00 and set a "neutral" rating on the stock in a report 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 report on Wednesday, March 11th. Robert W. Baird increased their target price on shares of ABM Industries from $45.00 to $48.00 and gave the stock a "neutral" rating in a research note on Monday, June 8th. Finally, Truist Financial dropped their target price on ABM Industries from $47.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, March 11th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $47.00.

Insiders Place Their Bets

In other news, CEO Scott B. Salmirs sold 50,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.34, for a total value of $2,317,000.00. Following the completion of the sale, the chief executive officer directly owned 395,285 shares in the company, valued at $18,317,506.90. This represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is 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.

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