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

Connor Clark & Lunn Investment Management Ltd. lessened its stake in ABM Industries Incorporated (NYSE:ABM) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,474 shares of the business services provider’s stock after selling 26,608 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of ABM Industries worth $2,634,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ABM. SBI Securities Co. Ltd. acquired a new position in ABM Industries in the fourth quarter valued at $33,000. Adirondack Trust Co. lifted its stake in shares of ABM Industries by 28.6% in the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock worth $46,000 after purchasing an additional 595 shares during the period. Quarry LP increased its position in ABM Industries by 49.7% during the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after purchasing an additional 721 shares in the last quarter. Finally, KBC Group NV raised its holdings in ABM Industries by 60.9% in the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock valued at $144,000 after buying an additional 1,067 shares during the period. 91.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, UBS Group decreased their price objective on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th.

Insiders Place Their Bets

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares in the company, valued at $978,137.16. The trade was a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value 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. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

ABM Industries Trading Up 2.2 %

Shares of ABM opened at $47.80 on Tuesday. ABM Industries Incorporated has a 12 month low of $42.28 and a 12 month high of $59.78. The stock’s 50-day moving average is $52.31 and its two-hundred day moving average is $53.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market cap of $2.97 billion, a PE ratio of 37.63, a P/E/G ratio of 2.75 and a beta of 1.13.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the company posted $1.01 EPS. ABM Industries’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors 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 2.22%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is 84.13%.

ABM Industries Company Profile

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.