ABB Ltd (ABB) Stake Boosted by Private Advisor Group LLC
Private Advisor Group LLC increased its holdings in ABB Ltd (NYSE:ABB) by 19.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,365 shares of the industrial products company’s stock after acquiring an additional 2,011 shares during the period. Private Advisor Group LLC’s holdings in ABB were worth $308,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC grew its holdings in shares of ABB by 296.7% in the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 3,590 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in ABB during the second quarter valued at $120,000. IFP Advisors Inc grew its holdings in ABB by 71.0% during the second quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 2,721 shares during the period. Quantbot Technologies LP bought a new position in ABB during the third quarter valued at $184,000. Finally, Sawtooth Solutions LLC bought a new position in ABB during the second quarter valued at $201,000. 4.76% of the stock is owned by institutional investors.
Shares of ABB Ltd (NYSE:ABB) opened at $26.10 on Thursday. The stock has a market capitalization of $56,436.89, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 3.39 and a beta of 1.05. ABB Ltd has a 12-month low of $20.80 and a 12-month high of $26.48. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.
ABB (NYSE:ABB) last posted its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.55 billion. ABB had a return on equity of 18.65% and a net margin of 6.79%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. sell-side analysts forecast that ABB Ltd will post 1.24 EPS for the current year.
Several brokerages have weighed in on ABB. Zacks Investment Research raised ABB from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday. Jefferies Group set a $20.00 price objective on ABB and gave the company a “sell” rating in a report on Tuesday, November 28th. J P Morgan Chase & Co reissued a “neutral” rating on shares of ABB in a report on Friday, November 24th. Goldman Sachs Group reissued a “buy” rating on shares of ABB in a report on Monday. Finally, Robert W. Baird reissued a “buy” rating and set a $29.00 price objective on shares of ABB in a report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $26.00.
ABB Company Profile
ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.
Receive News & Ratings for ABB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB and related companies with MarketBeat.com's FREE daily email newsletter.