Bank of New York Mellon Corp Buys Shares of 362,643 ABM Industries Incorporated $ABM

Key Points

• Bank of New York Mellon purchased 362,643 ABM Industries shares worth approximately $16.0 million, becoming the owner of about 0.62% of the company. Institutional investors collectively hold 91.62% of ABM’s stock.
• Analysts maintain a largely cautious outlook, with one Buy rating and four Hold ratings; the average price target is $47.00. Robert W. Baird raised its target from $45 to $48.
• ABM reported quarterly revenue of $2.29 billion, up 8.4% year over year, though earnings per share of $0.90 fell short of the $0.92 consensus estimate. The company pays a quarterly dividend of $0.29 per share, yielding about 2.5% annually.

Bank of New York Mellon Corp purchased a new position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 362,643 shares of the business services provider's stock, valued at approximately $16,043,000. Bank of New York Mellon Corp owned approximately 0.62% of ABM Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of ABM. Dimensional Fund Advisors LP grew its position in ABM Industries by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,076,047 shares of the business services provider's stock worth $157,007,000 after acquiring an additional 24,213 shares during the last quarter. Invesco Ltd. boosted its stake in shares of 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 purchasing an additional 575,273 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of ABM Industries by 30.0% during the first quarter. Pzena Investment Management LLC now owns 1,522,936 shares of the business services provider's stock valued at $58,663,000 after purchasing an additional 351,407 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of 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 purchasing an additional 897,402 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of ABM Industries in the fourth quarter valued at approximately $32,850,000. 91.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Robert W. Baird increased their target price on shares of ABM Industries from $45.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, June 8th. Weiss Ratings raised shares of ABM Industries from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $47.00.

ABM Industries Stock Down 1.4%

Shares of NYSE ABM opened at $46.52 on Tuesday. The firm has a market cap of $2.73 billion, a PE ratio of 17.89, a P/E/G ratio of 1.24 and a beta of 0.69. ABM Industries Incorporated has a 12-month low of $36.96 and a 12-month high of $50.12. The company's fifty day simple moving average is $46.78 and its 200 day simple moving average is $43.06. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.04.

ABM Industries (NYSE:ABM - Get Free Report) last posted its quarterly earnings results on Friday, June 5th. The business services provider reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). ABM Industries had a net margin of 1.75% and a return on equity of 11.84%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the firm posted $0.86 earnings per share. The company's revenue for the quarter was up 8.4% on a year-over-year basis. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. As a group, sell-side analysts forecast that ABM Industries Incorporated will post 3.97 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 2nd were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, July 2nd. ABM Industries's dividend payout ratio is 44.62%.

Insiders Place Their Bets

In other news, CEO Scott B. Salmirs sold 50,000 shares of the business'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 transaction of $2,317,000.00. Following the completion of the sale, the chief executive officer owned 395,285 shares in the company, valued at $18,317,506.90. The trade was a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.90% of the company's stock.

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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