Hsbc Holdings PLC Takes Position in ABM Industries Incorporated $ABM

Key Points

• HSBC Holdings initiated a position in ABM Industries during the second quarter, purchasing 67,617 shares valued at approximately $3.0 million, or 0.12% of the company.
• Institutional ownership remains high at 91.62%, with BlackRock, Pzena Investment Management, Ameriprise Financial, Norges Bank, and Millennium Management among notable investors adding or establishing positions.
• ABM reported quarterly revenue of $2.29 billion, up 8.4% year over year, but earnings of $0.90 per share fell short of estimates. Analysts maintain a consensus “Hold” rating with a $47 price target, while the company offers a 2.5% dividend yield.

Hsbc Holdings PLC bought a new stake in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 67,617 shares of the business services provider's stock, valued at approximately $3,011,000. Hsbc Holdings PLC owned about 0.12% of ABM Industries as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in ABM Industries during the second quarter valued at $410,948,000. Pzena Investment Management LLC bought a new position in ABM Industries during the 2nd quarter valued at about $79,995,000. Ameriprise Financial Inc. raised its position in ABM Industries by 419.5% in the 3rd 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 period. Norges Bank bought a new stake in ABM Industries in the fourth quarter worth about $32,850,000. Finally, Millennium Management LLC boosted its position in shares of ABM Industries by 883.5% during the third quarter. Millennium Management LLC now owns 672,200 shares of the business services provider's stock valued at $31,002,000 after buying an additional 603,853 shares during the period. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Stock Performance

ABM Industries stock opened at $47.24 on Friday. 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 company has a market capitalization of $2.77 billion, a PE ratio of 18.17, a P/E/G ratio of 1.24 and a beta of 0.69. The company has a 50 day moving average price of $46.72 and a 200-day moving average price of $43.09. ABM Industries Incorporated has a fifty-two week low of $36.96 and a fifty-two week high of $50.12.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.21 billion. ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. As a group, equities analysts forecast that ABM Industries Incorporated will post 3.97 earnings per share for the current year.

ABM Industries Dividend Announcement

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

Insider Buying and Selling at ABM Industries

In related news, CEO Scott B. Salmirs sold 50,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.34, for a total value of $2,317,000.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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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