Kennondale Capital Management LLC Buys 30,343 Shares of ABM Industries Incorporated $ABM

Kennondale Capital Management LLC boosted its stake in ABM Industries Incorporated (NYSE:ABM) by 85.6% in the third quarter, Holdings Channel.com reports. The fund owned 65,779 shares of the business services provider’s stock after buying an additional 30,343 shares during the quarter. ABM Industries comprises about 2.3% of Kennondale Capital Management LLC’s portfolio, making the stock its 10th largest holding. Kennondale Capital Management LLC’s holdings in ABM Industries were worth $3,034,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in shares of ABM Industries by 18.0% during the second quarter. Parkside Financial Bank & Trust now owns 1,612 shares of the business services provider’s stock worth $76,000 after purchasing an additional 246 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in ABM Industries by 2.3% in 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 during the last quarter. PNC Financial Services Group Inc. lifted its stake 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 valued at $300,000 after buying an additional 248 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of ABM Industries by 1.4% in the third 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 period. Finally, MQS Management LLC grew its position in shares of ABM Industries by 6.0% during the third quarter. MQS Management LLC now owns 5,177 shares of the business services provider’s stock worth $239,000 after acquiring an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $44.72 on Tuesday. ABM Industries Incorporated has a 52 week low of $40.00 and a 52 week high of $54.90. The company has a 50-day moving average price of $44.65 and a 200 day moving average price of $44.98. The company has a market cap of $2.62 billion, a P/E ratio of 17.27 and a beta of 0.73. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.86.

ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, December 17th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.21). The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. ABM Industries had a return on equity of 11.96% and a net margin of 1.86%.The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. ABM Industries has set its FY 2026 guidance at 3.850-4.15 EPS. Research analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Wednesday, January 14th were given a $0.29 dividend. The ex-dividend date was Wednesday, January 14th. This is a positive change from ABM Industries’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 2.6%. ABM Industries’s dividend payout ratio (DPR) is currently 44.79%.

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 31,034 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $44.12, for a total transaction of $1,369,220.08. Following the sale, the chief operating officer directly owned 51,714 shares in the company, valued at approximately $2,281,621.68. The trade was a 37.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

ABM has been the subject of several research reports. Truist Financial reiterated a “hold” rating and issued a $47.00 price target (down from $58.00) on shares of ABM Industries in a research report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and issued a $51.00 target price (down from $55.00) on shares of ABM Industries in a report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, January 21st. Finally, Wall Street Zen cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ABM Industries presently has a consensus rating of “Hold” and a consensus price target of $50.67.

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.