Atlantic Investment Management Inc. Invests $8.46 Million in ABM Industries Incorporated $ABM

Key Points

• Atlantic Investment Management opened a new position in ABM Industries during the fourth quarter, buying 200,000 shares worth about $8.46 million. The stake represents 4.8% of the firm’s portfolio and makes ABM its ninth-largest holding.
• Wall Street sentiment is cautious: ABM has a consensus rating of Hold with an average price target of $47. Recent analyst actions were mixed, with one upgrade to Buy but several neutral/hold ratings and lower target prices.
• ABM reported better-than-expected revenue of $2.29 billion in its latest quarter, though earnings per share of $0.90 missed estimates slightly. The company also announced a quarterly dividend of $0.29 per share, yielding about 2.7%.

Atlantic Investment Management Inc. acquired a new position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 200,000 shares of the business services provider's stock, valued at approximately $8,460,000. ABM Industries makes up 4.8% of Atlantic Investment Management Inc.'s investment portfolio, making the stock its 9th largest holding. Atlantic Investment Management Inc. owned 0.33% of ABM Industries at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its stake in shares of ABM Industries by 590.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider's stock worth $28,000 after purchasing an additional 520 shares in the last quarter. Quarry LP increased its holdings in shares of ABM Industries by 667.0% during the 3rd quarter. Quarry LP now owns 882 shares of the business services provider's stock worth $41,000 after acquiring an additional 767 shares during the last quarter. First Horizon Corp increased its holdings in shares of ABM Industries by 141.4% during the 4th quarter. First Horizon Corp now owns 886 shares of the business services provider's stock worth $37,000 after acquiring an additional 519 shares during the last quarter. Covestor Ltd increased its holdings in shares of ABM Industries by 89.1% during the 4th quarter. Covestor Ltd now owns 1,055 shares of the business services provider's stock worth $45,000 after acquiring an additional 497 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of ABM Industries during the 4th quarter worth approximately $46,000. Institutional investors own 91.62% of the company's stock.

Wall Street Analysts Forecast Growth

ABM has been the topic of a number of recent analyst reports. Maxim Group raised ABM Industries from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a report on Wednesday, March 11th. Weiss Ratings lowered ABM Industries from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 4th. Truist Financial decreased 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. Robert W. Baird boosted their target price on ABM Industries from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, June 8th. Finally, UBS Group decreased their target price on ABM Industries from $51.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, ABM Industries presently has a consensus rating of "Hold" and an average target price of $47.00.

Insider Transactions at ABM Industries

In related news, CEO Scott B. Salmirs sold 50,000 shares of the business's stock in a transaction 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. The trade was a 11.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Stock Performance

ABM opened at $43.45 on Thursday. The business has a fifty day simple moving average of $40.58 and a 200 day simple moving average of $42.32. The company has a market capitalization of $2.55 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.15 and a beta of 0.72. ABM Industries Incorporated has a 1 year low of $36.96 and a 1 year 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 released its quarterly earnings results on Friday, June 5th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.21 billion. ABM Industries had a net margin of 1.75% and a return on equity of 11.84%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. Research analysts expect that ABM Industries Incorporated will post 3.96 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be paid a $0.29 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.16 annualized dividend and a yield of 2.7%. ABM Industries's payout ratio is 44.62%.

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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