Nordea Investment Management AB Sells 386,449 Shares of ABM Industries Incorporated $ABM

Nordea Investment Management AB lessened its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 24.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,219,882 shares of the business services provider’s stock after selling 386,449 shares during the quarter. Nordea Investment Management AB’s holdings in ABM Industries were worth $51,845,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ABM. Caitong International Asset Management Co. Ltd increased its holdings in shares of ABM Industries by 590.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock worth $28,000 after acquiring an additional 520 shares during the last quarter. Quarry LP lifted its holdings in ABM Industries by 667.0% during the 3rd 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. Federated Hermes Inc. raised its position in shares of ABM Industries by 34.7% in the third quarter. Federated Hermes Inc. now owns 1,239 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 319 shares during the period. Headlands Technologies LLC acquired a new stake in shares of ABM Industries during the 2nd quarter worth about $94,000. Finally, CWM LLC lifted its stake in shares of ABM Industries by 34.2% during the 3rd quarter. CWM LLC now owns 2,420 shares of the business services provider’s stock worth $112,000 after buying an additional 617 shares during the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 31,034 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $44.12, for a total value of $1,369,220.08. Following the transaction, the chief operating officer directly owned 51,714 shares of the company’s stock, valued at $2,281,621.68. This trade represents a 37.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.

ABM Industries Price Performance

ABM Industries stock opened at $38.19 on Tuesday. The firm has a market cap of $2.23 billion, a PE ratio of 15.03 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. The stock’s fifty day moving average price is $43.86 and its two-hundred day moving average price is $44.11. ABM Industries Incorporated has a one year low of $36.96 and a one year high of $52.94.

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

ABM Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

ABM has been the topic of a number of research reports. Robert W. Baird decreased their price target on shares of ABM Industries from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 11th. Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a research report on Wednesday, January 21st. UBS Group reduced their price objective on ABM Industries from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Maxim Group raised 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. Finally, Truist Financial lowered their target price on ABM Industries from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.25.

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.