BlackRock Inc. Acquires Shares of 9,289,062 ABM Industries Incorporated $ABM

Key Points

• BlackRock acquired 9.29 million shares of ABM Industries during the second quarter, worth approximately $410.9 million, giving it a 15.86% stake. Institutional investors collectively own 91.62% of the company.
• ABM reported quarterly revenue of $2.29 billion, up 8.4% year over year, though earnings per share of $0.90 narrowly missed analysts’ $0.92 estimate. The company provided fiscal 2026 EPS guidance of $3.85 to $4.15.
• Analysts maintain a generally cautious outlook, with one Buy rating and four Holds, producing a consensus rating of “Hold” and a $47 price target. ABM also pays a quarterly dividend of $0.29, yielding about 2.5% annually.

BlackRock Inc. purchased a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,289,062 shares of the business services provider's stock, valued at approximately $410,948,000. BlackRock Inc. owned 15.86% of ABM Industries at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in ABM Industries by 590.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider's stock worth $28,000 after buying an additional 520 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of ABM Industries during the first quarter valued at about $39,000. Quarry LP grew its holdings in shares of ABM Industries by 667.0% during the third quarter. Quarry LP now owns 882 shares of the business services provider's stock valued at $41,000 after buying an additional 767 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of ABM Industries during the second quarter worth about $43,000. Finally, Covestor Ltd increased its position in shares of ABM Industries by 89.1% during the fourth quarter. Covestor Ltd now owns 1,055 shares of the business services provider's stock worth $45,000 after acquiring an additional 497 shares in the last quarter. Institutional investors own 91.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABM. Weiss Ratings upgraded shares of ABM Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Robert W. Baird lifted their price target on ABM Industries from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $47.00.

ABM Industries Stock Performance

Shares of ABM stock opened at $46.61 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a 50-day moving average of $46.52 and a 200-day moving average of $43.06. ABM Industries Incorporated has a one year low of $36.96 and a one year high of $50.12. The company has a market cap of $2.73 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.23 and a beta of 0.69.

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 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 last 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. Equities research analysts forecast that ABM Industries Incorporated will post 3.97 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were paid 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 was Thursday, July 2nd. ABM Industries's payout ratio is presently 44.62%.

Insider Activity

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 transaction, the chief executive officer directly owned 395,285 shares of the company's stock, valued at $18,317,506.90. This represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is currently owned by corporate 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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