Empowered Funds LLC Buys Shares of 201,881 ABM Industries Incorporated $ABM

Empowered Funds LLC purchased a new position in shares of ABM Industries Incorporated (NYSE:ABM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 201,881 shares of the business services provider’s stock, valued at approximately $8,931,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ABM. Aberdeen Wealth Management LLC acquired a new position in ABM Industries in the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd grew its position in shares of ABM Industries by 590.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 520 shares during the period. Western Wealth Management LLC purchased a new stake in shares of ABM Industries in the first quarter valued at $39,000. Quarry LP increased its stake in 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 last quarter. Finally, Global Retirement Partners LLC purchased a new position in ABM Industries during the second quarter worth about $43,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Stock Up 0.2%

ABM opened at $47.24 on Friday. The firm has a 50 day moving average price of $46.72 and a 200 day moving average price of $43.09. The company has a market cap of $2.77 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69. ABM Industries Incorporated has a 1 year low of $36.96 and a 1 year high of $50.12. 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 results on Friday, June 5th. The business services provider reported $0.90 earnings per share 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 analysts’ expectations of $2.21 billion. ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company posted $0.86 earnings per share. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. Sell-side analysts expect that ABM Industries Incorporated will post 3.97 earnings per share for the current year.

ABM Industries Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on the company. 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 raised their target price 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 research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $47.00.

Insider Activity at ABM Industries

In other news, CEO Scott B. Salmirs sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 395,285 shares in the company, valued at approximately $18,317,506.90. This trade represents a 11.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.90% of the company’s stock.

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.