MHI Funds LLC raised its position in ABB Ltd (NYSE:ABB) by 11,306.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 62,619 shares of the industrial products company’s stock after buying an additional 62,070 shares during the quarter. MHI Funds LLC’s holdings in ABB were worth $1,182,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Miller Howard Investments Inc. NY increased its stake in ABB by 1,878.9% in the 1st quarter. Miller Howard Investments Inc. NY now owns 2,324,854 shares of the industrial products company’s stock valued at $43,870,000 after buying an additional 2,207,371 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in ABB in the 1st quarter valued at $167,000. Wedbush Securities Inc. acquired a new position in ABB in the 1st quarter valued at $212,000. Mondrian Investment Partners LTD increased its stake in ABB by 13.5% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,366,618 shares of the industrial products company’s stock valued at $44,658,000 after buying an additional 281,263 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new position in ABB in the 1st quarter valued at $226,000. 4.33% of the stock is currently owned by institutional investors.

Shares of NYSE:ABB traded down $0.22 on Monday, reaching $20.74. 1,758,000 shares of the company were exchanged, compared to its average volume of 2,711,876. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.52. ABB Ltd has a 1-year low of $18.05 and a 1-year high of $24.72. The stock has a market cap of $44.48 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 3.04 and a beta of 1.06.

ABB (NYSE:ABB) last posted its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.06. ABB had a net margin of 6.59% and a return on equity of 19.31%. The business had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts anticipate that ABB Ltd will post 1.01 earnings per share for the current year.

Several brokerages have issued reports on ABB. ValuEngine raised shares of ABB from a “sell” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. reissued a “sell” rating on shares of ABB in a research note on Monday, April 8th. Berenberg Bank reissued a “sell” rating on shares of ABB in a research note on Tuesday, March 19th. Zacks Investment Research cut shares of ABB from a “hold” rating to a “strong sell” rating in a research note on Monday, March 11th. Finally, DNB Markets cut shares of ABB from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.84.

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ABB Profile

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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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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