Hsbc Holdings PLC Grows Stock Position in ABM Industries Incorporated $ABM

Key Points

• HSBC Holdings PLC significantly increased its stake in ABM Industries during the fourth quarter, lifting its holdings by 192.1% to 42,034 shares worth about $1.785 million. Other institutional investors also mostly added to positions, and hedge funds now own 91.62% of the stock.
• ABM CEO Scott B. Salmirs sold 50,000 shares in a pre-arranged Rule 10b5-1 transaction for about $2.317 million, reducing his direct ownership by 11.23%. Corporate insiders still hold a relatively small 0.90% stake in the company.
• ABM reported quarterly earnings of $0.90 per share, slightly below estimates, while revenue of $2.29 billion topped expectations and rose 8.4% year over year. The company also declared a quarterly dividend of $0.29 per share, yielding 2.6%, and analysts currently rate the stock a consensus Hold with a $47 target price.

Hsbc Holdings PLC lifted its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 192.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,034 shares of the business services provider's stock after purchasing an additional 27,643 shares during the period. Hsbc Holdings PLC owned about 0.07% of ABM Industries worth $1,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of ABM Industries by 0.4% during 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 acquiring an additional 312 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ABM Industries by 2.7% during the first 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 purchasing an additional 984 shares in the last quarter. Millennium Management LLC grew its holdings in ABM Industries by 2.2% during the first quarter. Millennium Management LLC now owns 79,533 shares of the business services provider's stock valued at $3,767,000 after purchasing an additional 1,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in ABM Industries by 5.1% in the first 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 worth $8,527,000 after buying an additional 8,704 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of ABM Industries by 592.0% in the first quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider's stock worth $6,640,000 after buying an additional 119,942 shares during the period. 91.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ABM Industries

In other news, CEO Scott B. Salmirs sold 50,000 shares of the 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.90% of the company's stock.

ABM Industries Price Performance

ABM traded up $0.12 during trading on Friday, hitting $44.55. 199,281 shares of the company traded hands, compared to its average volume of 627,086. The company has a market cap of $2.61 billion, a PE ratio of 17.13, a P/E/G ratio of 1.17 and a beta of 0.70. ABM Industries Incorporated has a 1 year low of $36.96 and a 1 year high of $50.12. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.04. The stock's 50-day simple moving average is $42.17 and its two-hundred day simple moving average is $42.30.

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

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 2nd. ABM Industries's dividend payout ratio is 44.62%.

Analyst Ratings Changes

ABM has been the subject of a number of recent research reports. Robert W. Baird boosted 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. Weiss Ratings raised ABM Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $47.00.

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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