Pzena Investment Management LLC Purchases 351,407 Shares of ABM Industries Incorporated $ABM

Key Points

• Pzena Investment Management increased its ABM Industries stake by 30% in Q1, buying 351,407 shares and bringing its total holding to 1,522,936 shares, worth about $58.7 million.
• ABM Industries reported quarterly EPS of $0.90, slightly below estimates, but revenue came in at $2.29 billion, ahead of expectations and up 8.4% year over year.
• The company declared a quarterly dividend of $0.29 per share, which implies an annualized yield of 2.6%, while analysts currently rate the stock a consensus Hold with a $47 average price target.

Pzena Investment Management LLC boosted its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 30.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,522,936 shares of the business services provider's stock after buying an additional 351,407 shares during the quarter. Pzena Investment Management LLC owned approximately 2.60% of ABM Industries worth $58,663,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in ABM Industries by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,051,834 shares of the business services provider's stock worth $171,394,000 after purchasing an additional 31,709 shares during the last quarter. Invesco Ltd. increased its stake in ABM Industries by 31.7% in the third quarter. Invesco Ltd. now owns 2,390,863 shares of the business services provider's stock valued at $110,267,000 after purchasing an additional 575,273 shares in the last quarter. Ameriprise Financial Inc. increased 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 valued at $51,254,000 after buying an additional 897,402 shares in the last quarter. Norges Bank acquired a new position in shares of ABM Industries during the fourth quarter worth approximately $32,850,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in ABM Industries by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 720,668 shares of the business services provider's stock worth $30,484,000 after buying an additional 10,147 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

ABM Industries Price Performance

Shares of NYSE ABM opened at $44.63 on Thursday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.16 and a beta of 0.72. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.04. The stock's 50-day simple moving average is $41.57 and its two-hundred day simple moving average is $42.33. ABM Industries Incorporated has a twelve month low of $36.96 and a twelve month high of $50.12.

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

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 2nd. ABM Industries's payout ratio is currently 44.62%.

Wall Street Analyst Weigh In

ABM has been the topic of a number of recent research reports. Maxim Group upgraded ABM Industries from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a report on Wednesday, March 11th. UBS Group cut their price target on ABM Industries from $51.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, March 11th. Weiss Ratings lowered shares of ABM Industries from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 4th. Truist Financial dropped their price target on shares of ABM Industries from $47.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, March 11th. Finally, Robert W. Baird raised their price objective on shares of ABM Industries from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, ABM Industries currently has a consensus rating of "Hold" and an average price target of $47.00.

Insider Transactions at ABM Industries

In related news, CEO Scott B. Salmirs sold 50,000 shares of the stock in a transaction on 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 transaction, the chief executive officer 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. 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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