Stephens Inc. AR bought a new stake in ABB Ltd (NYSE:ABB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,000 shares of the industrial products company’s stock, valued at approximately $642,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bremer Trust National Association bought a new position in ABB in the fourth quarter valued at $26,000. Cornerstone Advisors Inc. grew its stake in shares of ABB by 76.4% during the first quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the industrial products company’s stock valued at $26,000 after buying an additional 602 shares during the last quarter. Sontag Advisory LLC bought a new position in shares of ABB during the fourth quarter valued at about $35,000. We Are One Seven LLC bought a new position in shares of ABB during the fourth quarter valued at about $37,000. Finally, Osborn Williams & Donohoe LLC bought a new position in shares of ABB during the first quarter valued at about $45,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE ABB traded up $0.05 during trading hours on Wednesday, hitting $18.93. The company’s stock had a trading volume of 43,049 shares, compared to its average volume of 2,505,698. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a market capitalization of $40.38 billion, a PE ratio of 14.26, a PEG ratio of 2.77 and a beta of 1.09. ABB Ltd has a 12 month low of $18.05 and a 12 month high of $24.72.
ABB (NYSE:ABB) last posted its earnings results on Wednesday, April 17th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The company had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.82 billion. ABB had a return on equity of 19.31% and a net margin of 6.59%. ABB’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. As a group, equities research analysts anticipate that ABB Ltd will post 1 earnings per share for the current year.
A number of brokerages have recently issued reports on ABB. Deutsche Bank reaffirmed a “buy” rating and set a $24.00 price objective on shares of ABB in a research note on Tuesday. Zacks Investment Research cut ABB from a “hold” rating to a “strong sell” rating in a research note on Monday, March 11th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of ABB in a research note on Monday, April 8th. ValuEngine raised ABB from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of ABB in a research note on Thursday, February 28th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $21.39.
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ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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