Allianz Asset Management GmbH Sells 193,121 Shares of ABM Industries Incorporated $ABM

Allianz Asset Management GmbH trimmed its position in shares of ABM Industries Incorporated (NYSE:ABM) by 70.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,064 shares of the business services provider’s stock after selling 193,121 shares during the quarter. Allianz Asset Management GmbH’s holdings in ABM Industries were worth $3,739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State of Wyoming boosted its position in ABM Industries by 41.4% during the 3rd quarter. State of Wyoming now owns 17,292 shares of the business services provider’s stock worth $798,000 after buying an additional 5,059 shares during the period. Mutual Advisors LLC bought a new position in shares of ABM Industries during the third quarter valued at $204,000. Bryn Mawr Trust Advisors LLC acquired a new position in shares of ABM Industries during the third quarter worth $213,000. Cornerstone Wealth Management LLC grew its stake in shares of ABM Industries by 2.3% in the third quarter. Cornerstone Wealth Management LLC now owns 11,022 shares of the business services provider’s stock worth $508,000 after purchasing an additional 247 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in ABM Industries by 1.4% in the third quarter. Arizona State Retirement System now owns 18,422 shares of the business services provider’s stock valued at $850,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Stock Up 0.9%

ABM stock opened at $47.17 on Wednesday. The stock’s 50 day simple moving average is $44.75 and its 200 day simple moving average is $45.24. The company has a market cap of $2.84 billion, a P/E ratio of 18.21 and a beta of 0.75. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.48 and a current ratio of 1.48. ABM Industries Incorporated has a fifty-two week low of $40.00 and a fifty-two week high of $54.90.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, December 17th. The business services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.21). ABM Industries had a return on equity of 11.96% and a net margin of 1.86%.The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. ABM Industries has set its FY 2026 guidance at 3.850-4.15 EPS. On average, research analysts expect that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, January 14th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.5%. This is a boost from ABM Industries’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, January 14th. ABM Industries’s dividend payout ratio is presently 44.79%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ABM Industries in a report on Wednesday, January 21st. Wall Street Zen downgraded ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. UBS Group reiterated a “neutral” rating and issued a $51.00 target price (down from $55.00) on shares of ABM Industries in a report on Thursday, December 18th. Finally, Truist Financial reissued a “hold” rating and set a $47.00 target price (down previously from $58.00) on shares of ABM Industries in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.67.

Insider Transactions at ABM Industries

In other news, COO Rene Jacobsen sold 31,034 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $44.12, for a total value of $1,369,220.08. Following the completion of the transaction, the chief operating officer directly owned 51,714 shares of the company’s stock, valued at $2,281,621.68. This represents a 37.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

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.