Bank of New York Mellon Corp Has $13.62 Million Stake in ABM Industries Incorporated $ABM

Bank of New York Mellon Corp reduced its stake in ABM Industries Incorporated (NYSE:ABM) by 6.3% during the first quarter, HoldingsChannel reports. The firm owned 353,472 shares of the business services provider’s stock after selling 23,918 shares during the quarter. Bank of New York Mellon Corp’s holdings in ABM Industries were worth $13,616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABM. Illinois Municipal Retirement Fund boosted its position in ABM Industries by 7.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 33,824 shares of the business services provider’s stock worth $1,303,000 after buying an additional 2,284 shares during the period. Bleakley Financial Group LLC increased its position in ABM Industries by 22.0% in the 1st quarter. Bleakley Financial Group LLC now owns 40,314 shares of the business services provider’s stock valued at $1,553,000 after acquiring an additional 7,276 shares during the period. Fifth Third Bancorp raised its stake in shares of ABM Industries by 17,941.8% during the first quarter. Fifth Third Bancorp now owns 47,089 shares of the business services provider’s stock valued at $1,814,000 after acquiring an additional 46,828 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of ABM Industries by 4.7% during the first quarter. New York State Teachers Retirement System now owns 83,660 shares of the business services provider’s stock valued at $3,223,000 after acquiring an additional 3,744 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of ABM Industries by 30.0% during the first quarter. Pzena Investment Management LLC now owns 1,522,936 shares of the business services provider’s stock worth $58,663,000 after purchasing an additional 351,407 shares during the period. 91.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Scott B. Salmirs sold 50,000 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 395,285 shares of the company’s stock, valued at approximately $18,317,506.90. This represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Trading Up 0.6%

NYSE:ABM opened at $47.86 on Friday. 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. The company has a market cap of $2.80 billion, a PE ratio of 18.41, a PEG ratio of 1.25 and a beta of 0.70. The firm has a 50-day moving average of $44.45 and a 200-day moving average of $42.78.

ABM Industries (NYSE:ABM) last released its quarterly earnings results 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 net margin of 1.75% and a return on equity of 11.84%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm posted $0.86 EPS. ABM Industries’s revenue for the quarter was up 8.4% on a year-over-year basis. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. As a group, equities research analysts expect that ABM Industries Incorporated will post 3.97 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 2.4%. ABM Industries’s dividend payout ratio is 44.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings raised ABM Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Robert W. Baird boosted their price objective on ABM Industries from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.00.

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.