ABM Industries Incorporated $ABM Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in ABM Industries Incorporated (NYSE:ABM) by 47.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,116 shares of the business services provider’s stock after selling 10,877 shares during the quarter. State of Alaska Department of Revenue’s holdings in ABM Industries were worth $582,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Aberdeen Wealth Management LLC purchased a new stake in shares of ABM Industries during the second quarter worth $25,000. IFP Advisors Inc raised its stake in shares of ABM Industries by 183.7% in the second quarter. IFP Advisors Inc now owns 590 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 382 shares in the last quarter. Continuum Advisory LLC acquired a new stake in shares of ABM Industries in the second quarter valued at $27,000. Fortitude Family Office LLC boosted its holdings in ABM Industries by 1,451.4% in the third quarter. Fortitude Family Office LLC now owns 574 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 537 shares during the period. Finally, Nykredit A S purchased a new position in ABM Industries in the second quarter valued at $36,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Analysts Set New Price Targets

ABM has been the subject of several analyst reports. Robert W. Baird boosted their target price on ABM Industries from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. Weiss Ratings upgraded ABM Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. UBS Group increased their price target on ABM Industries from $45.00 to $51.50 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Truist Financial lifted their price objective on ABM Industries from $45.00 to $49.00 and gave the company a “hold” rating in a research note on Monday, September 14th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, ABM Industries currently has a consensus rating of “Hold” and a consensus target price of $50.88.

ABM Industries Stock Down 0.2%

Shares of ABM Industries stock opened at $53.75 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. ABM Industries Incorporated has a 52-week low of $36.96 and a 52-week high of $54.13. The company has a market capitalization of $3.15 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.50 and a beta of 0.64. The company has a 50 day moving average of $49.06 and a 200 day moving average of $45.27.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Tuesday, September 8th. The business services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. ABM Industries had a net margin of 1.82% and a return on equity of 12.46%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm posted $0.82 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. As a group, research analysts forecast that ABM Industries Incorporated will post 4.00 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, October 1st. ABM Industries’s payout ratio is 41.88%.

About ABM Industries

ABM Industries Incorporated (NYSE: ABM) is a provider of facility, aviation and transportation, and infrastructure solutions for commercial, industrial, institutional and public-sector customers. The company helps organizations operate and maintain their properties through services that include janitorial and custodial work, facility engineering, HVAC and electrical support, parking and transportation management, landscaping, and security-related solutions.

ABM also provides specialized services for airports, education and healthcare institutions, manufacturing and distribution facilities, data centers, sports and entertainment venues, and other complex environments.