Jupiter Topco LLC Takes $1.10 Million Position in ABM Industries Incorporated $ABM

Jupiter Topco LLC bought a new position in shares of ABM Industries Incorporated (NYSE:ABM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,815 shares of the business services provider’s stock, valued at approximately $1,097,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Aberdeen Wealth Management LLC acquired a new stake in ABM Industries during the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in ABM Industries by 590.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock worth $28,000 after buying an additional 520 shares in the last quarter. Western Wealth Management LLC purchased a new position in ABM Industries in the 1st quarter valued at about $39,000. Quarry LP grew its stake in shares of ABM Industries by 667.0% during the third quarter. Quarry LP now owns 882 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 767 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of ABM Industries during the second quarter worth about $43,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABM has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on ABM Industries from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Weiss Ratings upgraded ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.00.

ABM Industries Price Performance

Shares of ABM stock opened at $46.98 on Friday. The firm has a market cap of $2.75 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.23 and a beta of 0.68. 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 1-year low of $36.96 and a 1-year high of $50.12. The firm has a fifty day moving average of $46.94 and a two-hundred day moving average of $43.12.

ABM Industries (NYSE:ABM) last issued its 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 during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the company posted $0.86 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that ABM Industries Incorporated will post 3.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Scott Salmirs sold 50,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.34, for a total value of $2,317,000.00. Following the completion of the sale, the chief executive officer directly owned 395,285 shares of the company’s stock, valued at $18,317,506.90. The trade was a 11.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.90% of the company’s stock.

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.