Bank of America Corp DE Makes New $24.49 Million Investment in ABM Industries Incorporated $ABM

Key Points

• Bank of America bought 553,488 shares of ABM Industries worth approximately $24.49 million, acquiring a 0.94% stake. Institutional investors collectively own 91.62% of the company.
• ABM reported quarterly EPS of $1.04, exceeding estimates by $0.03, while revenue rose 4.2% year over year to $2.32 billion. The company reaffirmed fiscal 2026 EPS guidance of $3.95–$4.10.
• ABM declared a quarterly dividend of $0.29 per share, equivalent to an annualized $1.16 payout and a 2.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $50.88.

Bank of America Corp DE bought a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 553,488 shares of the business services provider's stock, valued at approximately $24,486,000. Bank of America Corp DE owned 0.94% of ABM Industries as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in ABM Industries during the second quarter worth about $410,948,000. Pzena Investment Management LLC purchased a new position in ABM Industries in the 2nd quarter valued at approximately $79,995,000. Norges Bank acquired a new position in ABM Industries during the fourth quarter worth $32,850,000. William Blair Investment Management LLC acquired a new position in ABM Industries during the second quarter worth $17,044,000. Finally, Bank of New York Mellon Corp purchased a new stake in ABM Industries during the second quarter worth $16,043,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $49.71 on Thursday. The business's fifty day moving average price is $48.17 and its two-hundred day moving average price is $43.57. The stock has a market cap of $2.91 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.39 and a beta of 0.68. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.42 and a current ratio of 1.42. ABM Industries Incorporated has a one year low of $36.96 and a one year high of $51.29.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings data on Tuesday, September 8th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. ABM Industries had a return on equity of 12.46% and a net margin of 1.82%.The business's revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 earnings per share. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. On average, analysts forecast that ABM Industries Incorporated will post 4.01 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, October 1st. ABM Industries's dividend payout ratio is 41.88%.

Analysts Set New Price Targets

Several research firms have weighed in on ABM. Truist Financial upped their target price on ABM Industries from $45.00 to $49.00 and gave the company a "hold" rating in a report on Monday, September 14th. Weiss Ratings downgraded ABM Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, September 11th. Robert W. Baird boosted their price objective on shares of ABM Industries from $48.00 to $53.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 9th. Finally, UBS Group increased their price objective on shares of ABM Industries from $45.00 to $51.50 and gave the company a "neutral" rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $50.88.

About ABM Industries

ABM Industries Incorporated NYSE: ABM is a provider of integrated facility and workplace solutions. The company helps organizations operate and maintain their buildings and infrastructure through services that include janitorial and custodial work, engineering and maintenance, electrical and lighting solutions, HVAC services, landscaping, energy management, and facility operations.

ABM also provides specialized services for aviation, parking, education, healthcare, manufacturing, logistics, commercial real estate, sports and entertainment venues, and government facilities.

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