Connor Clark & Lunn Investment Management Ltd. Takes Position in ABM Industries Incorporated $ABM

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ABM Industries Incorporated (NYSE:ABM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 102,997 shares of the business services provider’s stock, valued at approximately $4,557,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABM. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in ABM Industries in the second quarter valued at approximately $6,218,000. William Blair Investment Management LLC acquired a new position in shares of ABM Industries during the second quarter worth $17,044,000. Ieq Capital LLC acquired a new position in shares of ABM Industries during the second quarter worth $3,186,000. Allworth Financial LP purchased a new position in shares of ABM Industries in the second quarter valued at $117,000. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of ABM Industries in the second quarter valued at $3,513,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Robert W. Baird upped their price objective on shares of ABM Industries from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.00.

Insider Transactions at ABM Industries

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

ABM Industries Price Performance

ABM stock opened at $47.19 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.04. ABM Industries Incorporated has a 52-week low of $36.96 and a 52-week high of $50.12. The stock’s 50 day moving average is $46.66 and its two-hundred day moving average is $43.06. The company 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.

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

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 2nd were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.16 annualized dividend and a yield of 2.5%. ABM Industries’s dividend payout ratio is currently 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.