Connor Clark & Lunn Investment Management Ltd. cut its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,474 shares of the business services provider's stock after selling 26,608 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of ABM Industries worth $2,634,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in shares of ABM Industries by 279.4% in the 3rd quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider's stock valued at $5,702,000 after acquiring an additional 79,587 shares during the last quarter. Empowered Funds LLC purchased a new position in ABM Industries in the third quarter valued at approximately $1,982,000. Natixis Advisors LLC acquired a new stake in ABM Industries during the third quarter worth approximately $543,000. Quest Partners LLC lifted its position in shares of ABM Industries by 54.7% during the 3rd quarter. Quest Partners LLC now owns 15,204 shares of the business services provider's stock worth $802,000 after buying an additional 5,379 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in shares of ABM Industries by 3.0% in the 3rd quarter. Pathstone Holdings LLC now owns 84,591 shares of the business services provider's stock valued at $4,463,000 after buying an additional 2,448 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, UBS Group cut their price target on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th.
Get Our Latest Stock Report on ABM Industries
Insider Buying and Selling at ABM Industries
In related news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the transaction, the chief accounting officer now directly owns 18,681 shares in the company, valued at $978,137.16. This trade represents a 18.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Rene Jacobsen sold 10,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the transaction, the chief operating officer now owns 87,808 shares of the company's stock, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.
ABM Industries Stock Performance
ABM traded down $0.56 during trading on Friday, hitting $46.88. 1,280,356 shares of the stock were exchanged, compared to its average volume of 466,810. The firm has a market capitalization of $2.92 billion, a P/E ratio of 36.91, a PEG ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a 1-year low of $42.63 and a 1-year high of $59.78. The stock has a fifty day moving average price of $52.10 and a two-hundred day moving average price of $53.09. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73.
ABM Industries (NYSE:ABM - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. ABM Industries's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. As a group, sell-side analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current year.
ABM Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries's dividend payout ratio is presently 84.13%.
ABM Industries Company Profile
(
Free Report)
ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.
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