Connor Clark & Lunn Investment Management Ltd. reduced its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 31.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,082 shares of the business services provider's stock after selling 36,415 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of ABM Industries worth $4,120,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in ABM Industries during the third quarter worth $30,000. BOKF NA acquired a new stake in shares of ABM Industries in the 2nd quarter worth about $30,000. Adirondack Trust Co. lifted its position in ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider's stock valued at $35,000 after acquiring an additional 500 shares in the last quarter. Copeland Capital Management LLC acquired a new position in ABM Industries during the 3rd quarter valued at about $37,000. Finally, GAMMA Investing LLC increased its holdings in ABM Industries by 37.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider's stock worth $51,000 after purchasing an additional 273 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently issued reports on ABM shares. UBS Group lifted their target price on ABM Industries from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, September 9th. Truist Financial increased their target price on shares of ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a report on Monday, September 9th. Robert W. Baird upped their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. Finally, StockNews.com lowered shares of ABM Industries from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd.
Check Out Our Latest Research Report on ABM
ABM Industries Stock Performance
Shares of NYSE:ABM traded up $0.41 during midday trading on Friday, reaching $56.79. The company had a trading volume of 243,651 shares, compared to its average volume of 316,873. The stock has a market cap of $3.57 billion, a P/E ratio of 23.47 and a beta of 1.14. The company's 50 day moving average price is $53.64 and its 200 day moving average price is $52.15. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78.
ABM Industries (NYSE:ABM - Get Free Report) last released its earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the firm earned $0.79 EPS. The company's revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.
ABM Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.58%. The ex-dividend date was Thursday, October 3rd. ABM Industries's dividend payout ratio (DPR) is currently 37.19%.
Insider Activity at ABM Industries
In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the sale, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.04% of the stock is currently owned by company insiders.
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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