First Eagle Investment Management LLC Makes New $7.62 Million Investment in ABM Industries Incorporated $ABM

Key Points

• First Eagle Investment Management opened a new position in ABM Industries, buying 180,218 shares worth about $7.62 million in the fourth quarter.
• ABM’s latest quarterly results were mixed: EPS of $0.83 missed estimates, while revenue of $2.24 billion beat expectations and rose 6.1% year over year.
• The company continues to pay a quarterly dividend of $0.29, equal to a 3.0% annualized yield, while Wall Street currently rates the stock a Hold with a consensus price target of $46.25.

First Eagle Investment Management LLC purchased a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 180,218 shares of the business services provider's stock, valued at approximately $7,623,000. First Eagle Investment Management LLC owned 0.30% of ABM Industries as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ABM. Royal Bank of Canada grew its holdings in shares of ABM Industries by 0.4% in the 1st quarter. Royal Bank of Canada now owns 86,571 shares of the business services provider's stock valued at $4,100,000 after buying an additional 312 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ABM Industries by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,983 shares of the business services provider's stock valued at $1,752,000 after buying an additional 984 shares during the period. Millennium Management LLC grew its holdings in shares of ABM Industries by 2.2% in the 1st quarter. Millennium Management LLC now owns 79,533 shares of the business services provider's stock valued at $3,767,000 after buying an additional 1,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of ABM Industries by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,038 shares of the business services provider's stock valued at $8,527,000 after buying an additional 8,704 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of ABM Industries by 592.0% in the 1st quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider's stock valued at $6,640,000 after buying an additional 119,942 shares during the period. Institutional investors and hedge funds own 91.62% of the company's stock.

ABM Industries Trading Down 0.2%

ABM opened at $39.29 on Wednesday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 15.47 and a beta of 0.74. ABM Industries Incorporated has a 12 month low of $36.96 and a 12 month high of $52.94. The firm's fifty day simple moving average is $39.84 and its 200 day simple moving average is $42.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.93.

ABM Industries (NYSE:ABM - Get Free Report) last posted its quarterly earnings data on Tuesday, March 10th. The business services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.19 billion. ABM Industries had a net margin of 1.78% and a return on equity of 11.77%. The company's revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 earnings per share. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. As a group, research analysts anticipate that ABM Industries Incorporated will post 3.94 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Thursday, April 2nd were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, April 2nd. ABM Industries's payout ratio is currently 45.67%.

Wall Street Analyst Weigh In

ABM has been the subject of several research analyst reports. UBS Group decreased their price target on shares of ABM Industries from $51.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, March 11th. Maxim Group raised shares of ABM Industries from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a report on Wednesday, March 11th. Weiss Ratings lowered shares of ABM Industries from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 4th. Truist Financial decreased their price target on shares of ABM Industries from $47.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, March 11th. Finally, Robert W. Baird decreased their price target on shares of ABM Industries from $52.00 to $45.00 and set a "neutral" rating for the company 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 company. Based on data from MarketBeat.com, ABM Industries currently has a consensus rating of "Hold" and a consensus target price of $46.25.

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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