KBC Group NV Purchases 94,634 Shares of ABM Industries Incorporated $ABM

Key Points

• KBC Group NV sharply increased its ABM Industries stake in the first quarter, buying 94,634 shares to bring its total holdings to 96,795 shares worth about $3.73 million.
• ABM Industries reported quarterly earnings of $0.90 per share, missing estimates, though revenue came in above expectations at $2.29 billion and rose 8.4% year over year.
• The company declared a quarterly dividend of $0.29 per share, while CEO Scott B. Salmirs sold 50,000 shares in a pre-arranged transaction and analysts maintained a consensus Hold rating with a $47 price target.

KBC Group NV increased its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 4,379.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,795 shares of the business services provider's stock after buying an additional 94,634 shares during the period. KBC Group NV owned 0.17% of ABM Industries worth $3,729,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in ABM Industries by 0.4% in the first 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 lifted its stake 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 worth $3,767,000 after purchasing an additional 1,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in ABM Industries by 5.1% during 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 purchasing an additional 8,704 shares during the last quarter. Finally, Jane Street Group LLC boosted 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 worth $6,640,000 after purchasing an additional 119,942 shares in the last quarter. Institutional investors own 91.62% of the company's stock.

ABM Industries Price Performance

Shares of ABM Industries stock opened at $47.69 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. ABM Industries Incorporated has a 52-week low of $36.96 and a 52-week high of $50.12. The company has a fifty day moving average of $43.57 and a 200-day moving average of $42.62. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.24 and a beta of 0.70.

ABM Industries (NYSE:ABM - Get Free Report) last issued its earnings results on Friday, June 5th. The business services provider reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.02). The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.21 billion. ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.ABM Industries's revenue for the quarter was up 8.4% compared to the same quarter last year. 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. Equities research analysts expect that ABM Industries Incorporated will post 3.97 EPS for the current year.

ABM Industries Dividend Announcement

The business 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 $0.29 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.16 annualized dividend and a dividend yield of 2.4%. ABM Industries's payout ratio is currently 44.62%.

Insider Activity at ABM Industries

In other news, CEO Scott B. Salmirs sold 50,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 395,285 shares of the company's stock, valued at approximately $18,317,506.90. The trade was a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.90% of the company's stock.

Analyst Ratings Changes

ABM has been the topic of several recent research reports. Weiss Ratings upgraded ABM Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 6th. Robert W. Baird boosted their target price on ABM Industries from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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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