Connor Clark & Lunn Investment Management Ltd. Makes New $4.56 Million Investment in ABM Industries Incorporated $ABM

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ABM Industries Incorporated (NYSE:ABM - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 102,997 shares of the business services provider's stock, valued at approximately $4,557,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.18% of ABM Industries as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in ABM. BlackRock Inc. purchased a new stake in shares of ABM Industries in the second quarter valued at $410,948,000. Pzena Investment Management LLC acquired a new position in ABM Industries in the second quarter valued at $79,995,000. Ameriprise Financial Inc. lifted its position in ABM Industries by 419.5% during the third quarter. Ameriprise Financial Inc. now owns 1,111,320 shares of the business services provider's stock worth $51,254,000 after buying an additional 897,402 shares during the period. Norges Bank purchased a new position in ABM Industries during the fourth quarter worth about $32,850,000. Finally, Millennium Management LLC boosted its stake in ABM Industries by 883.5% in the 3rd quarter. Millennium Management LLC now owns 672,200 shares of the business services provider's stock worth $31,002,000 after buying an additional 603,853 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Weiss Ratings upgraded ABM Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Robert W. Baird raised their target price on shares of ABM Industries from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, ABM Industries has a consensus rating of "Hold" and a consensus price target of $47.00.

Insider Activity at ABM Industries

In other news, CEO Scott B. Salmirs sold 50,000 shares of ABM Industries stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.34, for a total value of $2,317,000.00. Following the transaction, the chief executive officer directly owned 395,285 shares of the company's stock, valued at $18,317,506.90. The trade was a 11.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.90% of the stock is currently owned by company insiders.

ABM Industries Stock Down 1.2%

Shares of NYSE ABM opened at $47.19 on Friday. The stock has a market capitalization of $2.76 billion, a PE ratio of 18.15, a P/E/G ratio of 1.25 and a beta of 0.69. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average of $46.66 and a 200-day moving average of $43.06. ABM Industries Incorporated has a 52-week low of $36.96 and a 52-week high of $50.12.

ABM Industries (NYSE:ABM - Get Free Report) last issued its earnings results on Friday, June 5th. The business services provider reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). ABM Industries had a return on equity of 11.84% and a net margin of 1.75%.The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same period last year, the business posted $0.86 earnings per share. The company's quarterly revenue was up 8.4% compared to the same quarter last year. ABM Industries has set its FY 2026 guidance at 3.850-4.150 EPS. On average, analysts anticipate that ABM Industries Incorporated will post 3.97 EPS for the current year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, July 2nd. ABM Industries's dividend payout ratio (DPR) is 44.62%.

ABM Industries Company Profile

ABM Industries Incorporated is a leading provider of integrated facility services, offering a comprehensive suite of solutions designed to support the operation, maintenance and enhancement of commercial properties. The company's core services include janitorial and custodial maintenance, HVAC and mechanical systems support, electrical and lighting solutions, and energy optimization. Additional offerings span parking management, security services, landscaping, and specialized support such as technical solutions and sustainability consulting.

Serving a diverse range of markets, ABM caters to clients in commercial real estate, aviation, healthcare, manufacturing, education, government entities, and technology campuses.

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