ABM Industries (NYSE:ABM) Announces Quarterly Earnings Results

ABM Industries (NYSE:ABM) announced its earnings results on Tuesday. The business services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03, FiscalAI reports. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.

ABM Industries Stock Down 0.1%

Shares of NYSE:ABM opened at $46.98 on Tuesday. ABM Industries has a 52-week low of $36.96 and a 52-week high of $50.12. The stock has a market cap of $2.75 billion, a P/E ratio of 18.07, a PEG ratio of 1.23 and a beta of 0.68. The business has a fifty day moving average of $46.99 and a two-hundred day moving average of $43.13. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.04.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings upgraded ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Robert W. Baird upped their target price on shares of ABM Industries from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.00.

Insider Activity at ABM Industries

In other news, CEO Scott Salmirs sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 395,285 shares of the company’s stock, valued at approximately $18,317,506.90. The trade was a 11.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ABM Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in shares of 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 purchasing an additional 897,402 shares during the last quarter. Millennium Management LLC lifted its position in ABM Industries by 883.5% in the third quarter. Millennium Management LLC now owns 672,200 shares of the business services provider’s stock valued at $31,002,000 after buying an additional 603,853 shares during the last quarter. Invesco Ltd. lifted its position in ABM Industries by 31.7% in the third quarter. Invesco Ltd. now owns 2,390,863 shares of the business services provider’s stock valued at $110,267,000 after buying an additional 575,273 shares during the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of ABM Industries during the second quarter valued at about $20,720,000. Finally, Barclays PLC increased its position in shares of ABM Industries by 268.4% during the fourth quarter. Barclays PLC now owns 379,147 shares of the business services provider’s stock valued at $16,038,000 after acquiring an additional 276,232 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

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.