ABB Ltd (ABB) Shares Bought by CAPROCK Group Inc.

CAPROCK Group Inc. lifted its position in shares of ABB Ltd (NYSE:ABB) by 51.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,312 shares of the industrial products company’s stock after acquiring an additional 9,918 shares during the quarter. CAPROCK Group Inc.’s holdings in ABB were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rhumbline Advisers purchased a new position in ABB in the 3rd quarter worth approximately $299,000. Bank of New York Mellon Corp boosted its holdings in ABB by 2,682.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 773,750 shares of the industrial products company’s stock worth $18,284,000 after acquiring an additional 745,943 shares during the period. BlackRock Inc. boosted its holdings in ABB by 9.7% in the 3rd quarter. BlackRock Inc. now owns 4,125,709 shares of the industrial products company’s stock worth $97,491,000 after acquiring an additional 366,275 shares during the period. Credit Suisse AG boosted its holdings in ABB by 364.2% in the 3rd quarter. Credit Suisse AG now owns 280,597 shares of the industrial products company’s stock worth $6,630,000 after acquiring an additional 220,153 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in ABB by 296.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,230,680 shares of the industrial products company’s stock worth $29,081,000 after acquiring an additional 920,247 shares during the period. 4.50% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on ABB shares. Bank of America upgraded ABB from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Berenberg Bank cut ABB from a “hold” rating to a “sell” rating in a report on Monday, January 28th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of ABB in a research note on Thursday, February 28th. Vertical Research cut ABB from a “hold” rating to a “sell” rating and set a $17.00 target price for the company. in a research note on Thursday, January 10th. Finally, Royal Bank of Canada initiated coverage on ABB in a research note on Tuesday, January 15th. They set a “sector perform” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $20.87.

ABB stock opened at $20.42 on Friday. The company has a market cap of $43.67 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 2.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.23 and a quick ratio of 0.98. ABB Ltd has a 52 week low of $18.05 and a 52 week high of $24.72.

ABB (NYSE:ABB) last announced its quarterly earnings data 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. ABB had a return on equity of 19.31% and a net margin of 6.59%. The firm had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts forecast that ABB Ltd will post 1 earnings per share for the current year.

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ABB Company 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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