Tocqueville Asset Management L.P. Takes Position in ABM Industries Incorporated $ABM

Tocqueville Asset Management L.P. acquired a new position in ABM Industries Incorporated (NYSE:ABM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 79,407 shares of the business services provider's stock, valued at approximately $3,513,000. Tocqueville Asset Management L.P. owned approximately 0.14% of ABM Industries as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ABM Industries by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,983 shares of the business services provider's stock worth $1,752,000 after buying an additional 984 shares during the last quarter. Millennium Management LLC boosted its stake in shares of ABM Industries by 2.2% during the 1st quarter. Millennium Management LLC now owns 79,533 shares of the business services provider's stock worth $3,767,000 after buying an additional 1,734 shares during the last quarter. 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 acquiring an additional 8,704 shares in the last quarter. 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 acquiring an additional 119,942 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company's stock.

Insiders Place Their Bets

In other ABM Industries news, CEO Scott B. Salmirs sold 50,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.34, for a total transaction of $2,317,000.00. Following the sale, the chief executive officer directly owned 395,285 shares in the company, valued at $18,317,506.90. This represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is owned by corporate insiders.

ABM Industries Trading Down 0.2%

Shares of ABM Industries stock opened at $47.14 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 stock has a market cap of $2.76 billion, a PE ratio of 18.13, a PEG ratio of 1.24 and a beta of 0.69. ABM Industries Incorporated has a 52-week low of $36.96 and a 52-week high of $50.12. The firm has a 50-day moving average of $46.39 and a 200-day moving average of $43.05.

ABM Industries (NYSE:ABM - Get Free Report) last announced its earnings results on Friday, June 5th. The business services provider reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The firm's revenue for the quarter 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, sell-side analysts forecast that ABM Industries Incorporated will post 3.97 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 2nd were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, July 2nd. ABM Industries's payout ratio is 44.62%.

Analyst Upgrades and Downgrades

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