ABM Industries Incorporated $ABM Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in ABM Industries Incorporated (NYSE:ABM) by 10.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 725,003 shares of the business services provider’s stock after selling 86,401 shares during the period. JPMorgan Chase & Co. owned approximately 1.20% of ABM Industries worth $33,437,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cornerstone Wealth Management LLC boosted its stake in ABM Industries by 2.3% during the third quarter. Cornerstone Wealth Management LLC now owns 11,022 shares of the business services provider’s stock valued at $508,000 after buying an additional 247 shares in the last quarter. PNC Financial Services Group Inc. raised its position in ABM Industries by 4.0% in the third quarter. PNC Financial Services Group Inc. now owns 6,506 shares of the business services provider’s stock worth $300,000 after acquiring an additional 248 shares in the last quarter. Mackenzie Financial Corp raised its position in ABM Industries by 4.2% in the third quarter. Mackenzie Financial Corp now owns 6,442 shares of the business services provider’s stock worth $297,000 after acquiring an additional 259 shares in the last quarter. Arizona State Retirement System lifted its holdings in ABM Industries by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 18,422 shares of the business services provider’s stock valued at $850,000 after acquiring an additional 260 shares during the last quarter. Finally, MQS Management LLC boosted its position in shares of ABM Industries by 6.0% during the 3rd quarter. MQS Management LLC now owns 5,177 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABM. Weiss Ratings restated a “hold (c)” rating on shares of ABM Industries in a research report on Wednesday, January 21st. Maxim Group upgraded ABM Industries from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Wednesday, March 11th. 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 research note on Wednesday, March 11th. Truist Financial decreased their target price on ABM Industries from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, March 11th. Finally, Robert W. Baird reduced their target price on ABM Industries from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.25.

ABM Industries Stock Down 0.6%

ABM opened at $37.29 on Monday. The company has a market capitalization of $2.18 billion, a PE ratio of 14.68 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 $36.96 and a fifty-two week high of $52.94. The business has a 50-day moving average of $43.98 and a 200-day moving average of $44.18.

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

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Thursday, April 2nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.1%. The ex-dividend date is Thursday, April 2nd. ABM Industries’s dividend payout ratio (DPR) is currently 45.67%.

Insider Transactions at ABM Industries

In related news, COO Rene Jacobsen sold 31,034 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

About ABM Industries

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.