ABM Industries Incorporated (NYSE:ABM) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in ABM Industries Incorporated (NYSE:ABM) by 34.1% in the fourth quarter, HoldingsChannel.com reports. The firm 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.’s holdings in ABM Industries were worth $2,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of ABM Industries in the 4th quarter valued at about $33,000. Adirondack Trust Co. lifted its holdings in ABM Industries by 28.6% in the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after acquiring an additional 200 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 595 shares during the period. Quarry LP grew its holdings in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock valued at $115,000 after purchasing an additional 721 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of ABM Industries by 60.9% during the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 1,067 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

ABM Industries Trading Up 2.2 %

ABM Industries stock opened at $47.80 on Tuesday. The firm has a 50-day moving average price of $52.31 and a two-hundred day moving average price of $53.24. ABM Industries Incorporated has a 52-week low of $42.28 and a 52-week high of $59.78. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 2.75 and a beta of 1.13. 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) last issued its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts expect that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be issued a $0.265 dividend. 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 payout ratio is currently 84.13%.

Insider Activity at ABM Industries

In related news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction dated 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 directly owns 87,808 shares of the company’s stock, valued at $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the completion of the sale, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. This trade represents a 18.64 % 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 insiders.

Analyst Upgrades and Downgrades

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

About ABM Industries

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.