Corient Private Wealth LP Invests $2.70 Million in ABM Industries Incorporated $ABM

Key Points

• Corient Private Wealth LP acquired 61,124 ABM Industries shares worth approximately $2.70 million, while other institutions also initiated positions. Institutional investors now own 91.62% of the company.
• Analysts maintain a consensus “Hold” rating with a $47 average price target. ABM recently reported revenue growth of 8.4% year over year, though quarterly EPS of $0.90 slightly missed estimates.
• ABM declared a quarterly dividend of $0.29 per share, equivalent to $1.16 annually and a 2.5% yield. CEO Scott Salmirs separately sold 50,000 shares under a pre-arranged Rule 10b5-1 plan.

Corient Private Wealth LP purchased a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,124 shares of the business services provider's stock, valued at approximately $2,704,000. Corient Private Wealth LP owned approximately 0.10% of ABM Industries as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE bought a new position in ABM Industries in the 2nd quarter worth about $24,486,000. Man Group plc bought a new stake in shares of ABM Industries during the second quarter valued at about $10,025,000. Jupiter Topco LLC bought a new stake in shares of ABM Industries during the second quarter valued at about $1,097,000. Hsbc Holdings PLC purchased a new stake in shares of ABM Industries in the second quarter worth about $3,011,000. Finally, Legal & General Group Plc purchased a new stake in shares of ABM Industries in the second quarter worth about $6,423,000. 91.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABM shares. Weiss Ratings upgraded shares of ABM Industries from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Robert W. Baird lifted their price objective 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 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 a consensus rating of "Hold" and a consensus target price of $47.00.

ABM Industries Stock Performance

ABM Industries stock opened at $46.33 on Wednesday. ABM Industries Incorporated has a fifty-two week low of $36.96 and a fifty-two week high of $50.12. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market cap of $2.71 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 1.22 and a beta of 0.68. The firm's fifty day moving average price is $46.83 and its 200-day moving average price is $43.05.

ABM Industries (NYSE:ABM - Get Free Report) last announced its 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). ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The company had revenue of $2.29 billion during 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 was up 8.4% on a year-over-year basis. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. On average, equities research analysts expect that ABM Industries Incorporated will post 3.97 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were issued 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 dividend payout ratio is presently 44.62%.

Insider Activity at ABM Industries

In other news, CEO Scott B. Salmirs sold 50,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 395,285 shares in the company, valued at approximately $18,317,506.90. This represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.90% of the company's stock.

About ABM Industries

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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