Invenomic Capital Management LP Acquires 231,988 Shares of ABM Industries Incorporated $ABM

Invenomic Capital Management LP boosted its holdings in ABM Industries Incorporated (NYSE:ABM) by 86.6% during the third quarter, Holdings Channel reports. The fund owned 499,838 shares of the business services provider’s stock after purchasing an additional 231,988 shares during the period. ABM Industries makes up 1.1% of Invenomic Capital Management LP’s holdings, making the stock its 25th largest holding. Invenomic Capital Management LP’s holdings in ABM Industries were worth $23,053,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. boosted its position in ABM Industries by 31.7% during the third 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. American Century Companies Inc. lifted its stake in shares of ABM Industries by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 1,615,135 shares of the business services provider’s stock worth $76,251,000 after buying an additional 24,638 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of ABM Industries by 1,068.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,606,331 shares of the business services provider’s stock worth $73,297,000 after buying an additional 1,468,887 shares during the period. Geode Capital Management LLC grew its stake in ABM Industries by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,502,219 shares of the business services provider’s stock valued at $70,928,000 after buying an additional 10,182 shares during the last quarter. Finally, LSV Asset Management raised its holdings in ABM Industries by 1.2% in the 2nd quarter. LSV Asset Management now owns 1,402,702 shares of the business services provider’s stock valued at $66,222,000 after acquiring an additional 16,530 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ABM shares. Robert W. Baird decreased their target price on ABM Industries from $52.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 11th. Truist Financial decreased their price objective on 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 objective on ABM Industries from $51.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 11th. Maxim Group raised shares of ABM Industries from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday, March 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.25.

Insider Activity

In related news, COO Rene Jacobsen sold 31,034 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $44.12, for a total transaction of $1,369,220.08. Following the sale, the chief operating officer owned 51,714 shares in the company, valued at approximately $2,281,621.68. This trade represents a 37.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

ABM Industries Price Performance

Shares of NYSE ABM opened at $38.81 on Monday. The business has a fifty day moving average price of $44.60 and a two-hundred day moving average price of $44.57. The stock has a market capitalization of $2.27 billion, a PE ratio of 15.28 and a beta of 0.73. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 1.50. ABM Industries Incorporated has a fifty-two week low of $38.27 and a fifty-two week high of $52.94.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Tuesday, March 10th. The business services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.19 billion. ABM Industries had a return on equity of 11.77% and a net margin of 1.78%.The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 EPS. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. As a group, equities analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, April 2nd. ABM Industries’s dividend payout ratio is 45.67%.

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.