776,604 Shares in ABM Industries Incorporated $ABM Acquired by Norges Bank

Norges Bank purchased a new position in ABM Industries Incorporated (NYSE:ABM) during the fourth quarter, Holdings Channel.com reports. The fund purchased 776,604 shares of the business services provider’s stock, valued at approximately $32,850,000.

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

Analyst Ratings Changes

ABM has been the topic of a number of research reports. Truist Financial lowered their price target 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. UBS Group lowered their price target on shares of ABM Industries from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Weiss Ratings lowered shares of ABM Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Robert W. Baird lifted their price objective on shares of 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 on the stock in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $47.00.

ABM Industries Price Performance

Shares of NYSE ABM opened at $42.35 on Tuesday. The stock has a fifty day moving average of $39.69 and a 200-day moving average of $42.20. The stock has a market cap of $2.48 billion, a PE ratio of 16.29 and a beta of 0.71. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.46. ABM Industries Incorporated has a fifty-two week low of $36.96 and a fifty-two week high of $50.12.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, June 5th. The business services provider reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.21 billion. ABM Industries had a net margin of 1.75% and a return on equity of 11.84%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. Equities research analysts anticipate that ABM Industries Incorporated will post 3.94 earnings per share for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, July 2nd. ABM Industries’s payout ratio is 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.