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Scott Salmirs, the President and CEO of ABM Industries Inc . (NYSE:ABM), executed a series of stock sales recently, according to a filing with the Securities and Exchange Commission. Over two days, Salmirs sold a total of 12,935 shares of ABM common stock, amounting to approximately $673,434. The facility services company, currently valued at $3.2 billion, has maintained strong financial health with a current ratio of 1.52, according to InvestingPro data.
The transactions occurred on May 12 and May 13, with the shares sold at a weighted average price ranging from $52.061 to $52.0925 per share. Following these sales, Salmirs retains ownership of 406,721 shares in the company.
These sales were conducted under a pre-arranged Rule 10b5-1 trading plan, established earlier this year on January 6. Such plans allow company insiders to sell a predetermined number of shares at a predetermined time, helping to avoid potential accusations of insider trading.
The detailed breakdown of the sales reveals that on May 12, Salmirs sold 800 shares, and on May 13, he sold an additional 12,135 shares. These transactions are part of routine financial planning and portfolio management for executives, although they are closely watched by investors for potential signals about the company’s future performance. According to InvestingPro’s Fair Value analysis, ABM’s stock is currently trading near its Fair Value, with analysts setting price targets ranging from $50 to $68 per share.
In other recent news, ABM Industries reported its first-quarter 2025 earnings, surpassing analysts’ expectations with an adjusted earnings per share (EPS) of $0.87, compared to the forecasted $0.76. The company also exceeded revenue projections, posting $2.1 billion against the anticipated $2.07 billion. Despite this strong performance, ABM Industries’ stock experienced a decline in pre-market trading, potentially due to broader market conditions or specific company challenges. The company has set its full-year 2025 adjusted EPS guidance between $3.65 and $3.80, indicating confidence in sustained growth. Additionally, ABM Industries announced the expansion of its stock plans following shareholder approval, increasing the number of shares authorized for issuance under its 2021 Equity and Incentive Compensation Plan. The company also introduced a new Employee Stock Purchase Plan, allowing employees to purchase stock at a discount. Furthermore, ABM Industries elected new directors to its board and ratified KPMG LLP as its independent registered public accounting firm for fiscal year 2025. These developments reflect ABM Industries’ ongoing efforts to enhance shareholder value and strategic incentive programs.
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