Norges Bank Makes New Investment in ABM Industries Incorporated $ABM

Norges Bank purchased a new position in shares of ABM Industries Incorporated (NYSE:ABM) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 776,604 shares of the business services provider’s stock, valued at approximately $32,850,000. Norges Bank owned 1.29% of ABM Industries at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ABM. Ameriprise Financial Inc. grew its holdings in ABM Industries by 419.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,111,320 shares of the business services provider’s stock worth $51,254,000 after acquiring an additional 897,402 shares during the period. Millennium Management LLC grew its holdings in ABM Industries by 883.5% during the 3rd quarter. Millennium Management LLC now owns 672,200 shares of the business services provider’s stock worth $31,002,000 after acquiring an additional 603,853 shares during the period. Invesco Ltd. grew its holdings in ABM Industries by 31.7% during the 3rd quarter. Invesco Ltd. now owns 2,390,863 shares of the business services provider’s stock worth $110,267,000 after acquiring an additional 575,273 shares during the period. Simcoe Capital Management LLC acquired a new stake in ABM Industries during the 2nd quarter worth about $20,720,000. Finally, Invenomic Capital Management LP grew its holdings in ABM Industries by 86.6% during the 3rd quarter. Invenomic Capital Management LP now owns 499,838 shares of the business services provider’s stock worth $23,053,000 after acquiring an additional 231,988 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Trading Down 0.5%

Shares of ABM stock opened at $42.35 on Tuesday. ABM Industries Incorporated has a 52-week low of $36.96 and a 52-week high of $50.12. The company has a 50-day simple moving average of $39.69 and a two-hundred day simple moving average of $42.20. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.46. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 16.29 and a beta of 0.71.

ABM Industries (NYSE:ABM) last posted 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 firm 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 earned $0.86 EPS. ABM Industries’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. Research analysts anticipate that ABM Industries Incorporated will post 3.94 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.16 annualized dividend and a dividend yield of 2.7%. ABM Industries’s dividend payout ratio (DPR) is currently 44.62%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABM. Weiss Ratings downgraded ABM Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. UBS Group reduced their target price on ABM Industries from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 11th. Truist Financial reduced their target price on ABM Industries from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, March 11th. Robert W. Baird raised their target price on ABM Industries from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday. Finally, 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. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.