Louisiana State Employees Retirement System Purchases New Stake in ABM Industries Incorporated $ABM

Louisiana State Employees Retirement System acquired a new position in shares of ABM Industries Incorporated (NYSE:ABM) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 26,000 shares of the business services provider’s stock, valued at approximately $1,002,000.

Several other hedge funds have also added to or reduced their stakes in ABM. Dimensional Fund Advisors LP lifted its stake in ABM Industries by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,051,834 shares of the business services provider’s stock valued at $171,394,000 after purchasing an additional 31,709 shares during the last quarter. Invesco Ltd. raised its stake in shares of 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 period. Pzena Investment Management LLC lifted its position in shares of ABM Industries by 0.6% during the 4th quarter. Pzena Investment Management LLC now owns 1,171,529 shares of the business services provider’s stock valued at $49,556,000 after buying an additional 6,687 shares during the last quarter. Ameriprise Financial Inc. raised its stake in 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 valued at $51,254,000 after acquiring an additional 897,402 shares during the period. Finally, Norges Bank bought a new stake in ABM Industries in the 4th quarter valued at about $32,850,000. Institutional investors own 91.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABM. Weiss Ratings lowered shares of ABM Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. 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 research report on Wednesday, March 11th. Maxim Group upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, March 11th. Robert W. Baird raised their price objective 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. Finally, UBS Group reduced their price objective on shares of ABM Industries from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 11th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling

In other ABM Industries news, CEO Scott B. Salmirs sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.34, for a total value of $2,317,000.00. Following the completion of the transaction, the chief executive officer owned 395,285 shares of the company’s stock, valued at $18,317,506.90. The trade was a 11.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is currently owned by corporate insiders.

ABM Industries Stock Down 0.2%

Shares of NYSE:ABM opened at $44.17 on Friday. The firm has a fifty day moving average price of $41.73 and a two-hundred day moving average price of $42.32. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.16 and a beta of 0.70. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.46 and a quick ratio of 1.46. ABM Industries Incorporated has a one year low of $36.96 and a one year high of $50.12.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Friday, June 5th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. Analysts anticipate that ABM Industries Incorporated will post 3.97 EPS for the current fiscal year.

ABM Industries Announces Dividend

The business 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 is Thursday, July 2nd. This represents a $1.16 annualized dividend and a yield of 2.6%. ABM Industries’s payout ratio is presently 44.62%.

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.