Y Intercept Hong Kong Ltd Sells 33,750 Shares of ABM Industries Incorporated $ABM

Key Points

• Y Intercept Hong Kong Ltd reduced its ABM Industries stake by 46.1% in Q1, selling 33,750 shares and leaving it with 39,441 shares valued at about $1.52 million.
• Insider selling also occurred, with CEO Scott B. Salmirs selling 50,000 shares on June 12 for about $2.32 million under a pre-arranged Rule 10b5-1 plan.
• ABM Industries posted mixed quarterly results, missing EPS estimates but beating revenue expectations; the company also raised its quarterly dividend to $0.29 per share, for an annualized yield of 2.6%.

Y Intercept Hong Kong Ltd trimmed its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 46.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,441 shares of the business services provider's stock after selling 33,750 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.07% of ABM Industries worth $1,519,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ABM Industries by 2.7% in the 1st 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 acquiring an additional 984 shares during the period. Millennium Management LLC raised its position in shares of ABM Industries by 2.2% in the 1st quarter. Millennium Management LLC now owns 79,533 shares of the business services provider's stock worth $3,767,000 after acquiring an additional 1,734 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 worth $8,527,000 after acquiring an additional 8,704 shares in the last quarter. Finally, Jane Street Group LLC raised its position 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 acquiring an additional 119,942 shares in the last quarter. Institutional investors own 91.62% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity at ABM Industries

In related news, CEO Scott B. Salmirs sold 50,000 shares of ABM Industries stock in a transaction that occurred on 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 in the company, valued at $18,317,506.90. This trade represents a 11.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is owned by insiders.

ABM Industries Stock Up 0.3%

ABM traded up $0.12 during trading on Friday, hitting $44.55. The stock had a trading volume of 199,281 shares, compared to its average volume of 627,086. The stock has a 50 day simple moving average of $42.17 and a two-hundred day simple moving average of $42.30. 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 twelve month low of $36.96 and a twelve month high of $50.12. The company has a market capitalization of $2.61 billion, a PE ratio of 17.13, a PEG ratio of 1.16 and a beta of 0.70.

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). The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.21 billion. ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. On average, research analysts predict that ABM Industries Incorporated will post 3.97 earnings per share for the current year.

ABM Industries Announces Dividend

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

ABM Industries 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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