Legal & General Group Plc Invests $6.42 Million in ABM Industries Incorporated $ABM

Legal & General Group Plc purchased a new position in shares of ABM Industries Incorporated (NYSE:ABM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 145,186 shares of the business services provider’s stock, valued at approximately $6,423,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in ABM Industries by 86.3% during the 1st quarter. Quantinno Capital Management LP now owns 54,790 shares of the business services provider’s stock worth $2,111,000 after buying an additional 25,388 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of ABM Industries during the first quarter worth approximately $12,739,000. First Eagle Investment Management LLC purchased a new stake in shares of ABM Industries during the fourth quarter worth approximately $7,623,000. Louisiana State Employees Retirement System acquired a new position in ABM Industries in the 1st quarter valued at $1,002,000. Finally, BlackRock Inc. acquired a new position in ABM Industries in the 2nd quarter valued at $410,948,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of 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 shares of ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, ABM Industries currently has a consensus rating of “Hold” and an average target price of $47.00.

ABM Industries Stock Performance

Shares of ABM stock opened at $46.51 on Thursday. The firm’s 50 day moving average price is $46.86 and its 200-day moving average price is $43.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.46 and a current ratio of 1.46. ABM Industries Incorporated has a one year low of $36.96 and a one year high of $50.12. The firm has a market cap of $2.72 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.22 and a beta of 0.68.

ABM Industries (NYSE:ABM) last posted its earnings results on Friday, June 5th. The business services provider reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.21 billion. ABM Industries had a net margin of 1.75% and a return on equity of 11.84%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. As a group, equities research analysts predict that ABM Industries Incorporated will post 3.97 EPS for the current year.

Insider Buying and Selling at ABM Industries

In related news, CEO Scott B. Salmirs sold 50,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 395,285 shares in the company, valued at approximately $18,317,506.90. The trade was a 11.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.90% of the company’s stock.

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.