Commonwealth Equity Services LLC Has $2.04 Million Holdings in ABB Ltd (ABB)

Commonwealth Equity Services LLC raised its holdings in shares of ABB Ltd (NYSE:ABB) by 17.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,552 shares of the industrial products company’s stock after purchasing an additional 14,199 shares during the period. Commonwealth Equity Services LLC’s holdings in ABB were worth $2,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Summit Trail Advisors LLC increased its position in shares of ABB by 3,057.8% during the first quarter. Summit Trail Advisors LLC now owns 125,489 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 121,515 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new stake in shares of ABB during the first quarter valued at approximately $143,000. Becker Capital Management Inc. bought a new stake in shares of ABB during the first quarter valued at approximately $201,000. Hsbc Holdings PLC bought a new stake in shares of ABB during the first quarter valued at approximately $238,000. Finally, Signaturefd LLC bought a new stake in shares of ABB during the first quarter valued at approximately $255,000. 5.77% of the stock is owned by institutional investors and hedge funds.

Shares of ABB opened at $22.30 on Friday. The company has a market cap of $48.31 billion, a P/E ratio of 17.84, a PEG ratio of 2.39 and a beta of 1.21. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. ABB Ltd has a twelve month low of $21.22 and a twelve month high of $28.67.

ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. ABB had a net margin of 6.24% and a return on equity of 19.94%. The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. sell-side analysts anticipate that ABB Ltd will post 1.38 EPS for the current fiscal year.

Several brokerages recently weighed in on ABB. JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a research report on Monday, June 11th. Zacks Investment Research raised shares of ABB from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. ValuEngine downgraded shares of ABB from a “hold” rating to a “sell” rating in a research report on Tuesday, May 29th. Deutsche Bank reissued a “buy” rating on shares of ABB in a research report on Friday, April 20th. Finally, Jefferies Financial Group raised shares of ABB from an “underperform” rating to a “hold” rating and set a $23.00 price target for the company in a research report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. ABB currently has an average rating of “Hold” and a consensus price target of $27.00.

ABB Company Profile

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, 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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