Legal & General Group Plc Makes New $6.42 Million Investment in ABM Industries Incorporated $ABM

Legal & General Group Plc acquired a new stake in shares of ABM Industries Incorporated (NYSE:ABM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 145,186 shares of the business services provider’s stock, valued at approximately $6,423,000. Legal & General Group Plc owned about 0.25% of ABM Industries at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Aberdeen Wealth Management LLC acquired a new position in ABM Industries during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in ABM Industries by 590.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock worth $28,000 after acquiring an additional 520 shares in the last quarter. 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 worth $41,000 after acquiring an additional 767 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of ABM Industries during the second quarter valued at about $43,000. Finally, Western Wealth Management LLC purchased a new position in shares of ABM Industries in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

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 shares were sold at an average price of $46.34, for a total value of $2,317,000.00. Following the completion of the transaction, the chief executive officer directly owned 395,285 shares in the company, valued at $18,317,506.90. The trade was a 11.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 company insiders.

Analyst Ratings Changes

A number of analysts recently commented on ABM shares. 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 raised shares of ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One equities research 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, the company has a consensus rating of “Hold” and a consensus price target of $47.00.

ABM Industries Stock Performance

Shares of ABM stock opened at $46.51 on Thursday. ABM Industries Incorporated has a 52-week low of $36.96 and a 52-week high of $50.12. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.04. The stock has a market cap of $2.72 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.22 and a beta of 0.68. The business has a 50-day simple moving average of $46.86 and a 200-day simple moving average of $43.08.

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