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Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in ABM Industries Incorporated (NYSE:ABM)

ABM Industries logo with Construction background

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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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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