24,815 Shares in ABM Industries Incorporated $ABM Acquired by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in ABM Industries Incorporated (NYSE:ABM) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 24,815 shares of the business services provider’s stock, valued at approximately $1,097,000.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Robert W. Baird lifted their price target on shares of ABM Industries from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, June 8th. 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, the company currently has an average rating of “Hold” and an average target price of $47.00.

Insider Buying and Selling at ABM Industries

In related news, CEO Scott Salmirs sold 50,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.34, for a total transaction 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 approximately $18,317,506.90. This represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.90% of the company’s stock.

ABM Industries Stock Down 0.5%

ABM opened at $46.98 on Friday. The firm has a 50 day moving average price of $46.94 and a 200 day moving average price of $43.12. The company has a market cap of $2.75 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.23 and a beta of 0.68. ABM Industries Incorporated has a 1 year low of $36.96 and a 1 year high of $50.12. 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 (NYSE:ABM) last announced its quarterly earnings results on Friday, June 5th. The business services provider reported $0.90 earnings per share 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 business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the firm earned $0.86 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that ABM Industries Incorporated will post 3.97 earnings per share for the current year.

ABM Industries Company 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.