Moors & Cabot Inc. boosted its stake in shares of ABB Ltd (NYSE:ABB) by 52.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 113,989 shares of the industrial products company’s stock after buying an additional 39,250 shares during the period. Moors & Cabot Inc.’s holdings in ABB were worth $2,169,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Cornerstone Advisors Inc. raised its holdings in shares of ABB by 76.4% in the first quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 602 shares during the last quarter. Bremer Trust National Association acquired a new stake in shares of ABB in the fourth quarter valued at approximately $26,000. Sontag Advisory LLC acquired a new stake in shares of ABB in the fourth quarter valued at approximately $35,000. We Are One Seven LLC acquired a new stake in shares of ABB in the fourth quarter valued at approximately $37,000. Finally, Osborn Williams & Donohoe LLC acquired a new position in ABB during the first quarter worth $45,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.
Shares of ABB opened at $19.25 on Friday. The firm has a market cap of $40.33 billion, a P/E ratio of 14.47, a PEG ratio of 2.75 and a beta of 1.09. ABB Ltd has a 1-year low of $18.05 and a 1-year high of $24.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.23.
A number of equities analysts recently weighed in on ABB shares. Zacks Investment Research upgraded shares of ABB from a “strong sell” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, May 1st. ValuEngine upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Jefferies Financial Group restated a “hold” rating on shares of ABB in a report on Thursday, February 28th. Royal Bank of Canada restated a “hold” rating on shares of ABB in a report on Thursday, February 28th. Finally, UBS Group restated a “hold” rating on shares of ABB in a report on Thursday, February 28th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. ABB has an average rating of “Hold” and a consensus price target of $20.87.
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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