Hsbc Holdings PLC Boosts Position in ABM Industries Incorporated $ABM

Hsbc Holdings PLC grew its stake in ABM Industries Incorporated (NYSE:ABM) by 192.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,034 shares of the business services provider’s stock after purchasing an additional 27,643 shares during the period. Hsbc Holdings PLC’s holdings in ABM Industries were worth $1,785,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in ABM Industries by 590.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock worth $28,000 after acquiring an additional 520 shares in the last quarter. First Horizon Corp boosted its stake in shares of ABM Industries by 141.4% in the fourth quarter. First Horizon Corp now owns 886 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 519 shares during the period. Quarry LP boosted its stake in shares of ABM Industries by 667.0% in the third quarter. Quarry LP now owns 882 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 767 shares during the period. Covestor Ltd grew its holdings in ABM Industries by 89.1% during the 4th quarter. Covestor Ltd now owns 1,055 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 497 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in ABM Industries during the 4th quarter valued at $46,000. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Stock Performance

Shares of ABM stock opened at $44.19 on Wednesday. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.17 and a beta of 0.72. ABM Industries Incorporated has a one year low of $36.96 and a one year high of $50.12. The company’s 50-day simple moving average is $41.49 and its 200-day simple moving average is $42.34. 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 (NYSE:ABM) last announced its quarterly earnings data on Friday, June 5th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). ABM Industries had a net margin of 1.75% and a return on equity of 11.84%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The company’s quarterly 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. Equities analysts anticipate that ABM Industries Incorporated will post 3.97 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd will be issued 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%.

Insiders Place Their Bets

In other ABM Industries news, CEO Scott B. Salmirs sold 50,000 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $18,317,506.90. This represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 currently owned by insiders.

Analyst Ratings Changes

ABM has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on shares of ABM Industries from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, March 11th. Maxim Group upgraded ABM Industries from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Wednesday, March 11th. Weiss Ratings lowered ABM Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. UBS Group reduced their price target on ABM Industries from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Finally, 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 note on Monday, June 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.00.

ABM Industries Company 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.