Portland Global Advisors LLC Acquires 9,510 Shares of ABB Ltd (NYSE:ABB)

Portland Global Advisors LLC lifted its holdings in ABB Ltd (NYSE:ABB) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 128,896 shares of the industrial products company’s stock after purchasing an additional 9,510 shares during the period. ABB comprises approximately 0.9% of Portland Global Advisors LLC’s holdings, making the stock its 28th biggest position. Portland Global Advisors LLC’s holdings in ABB were worth $2,582,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ABB. Cornerstone Advisors Inc. raised its stake in ABB by 76.4% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 602 shares during the period. Bremer Bank National Association bought a new stake in ABB during the 1st quarter worth approximately $29,000. Institutional & Family Asset Management LLC bought a new stake in ABB during the 1st quarter worth approximately $35,000. Osborn Williams & Donohoe LLC bought a new stake in ABB during the 1st quarter worth approximately $45,000. Finally, Lindbrook Capital LLC raised its stake in ABB by 20.5% during the 1st quarter. Lindbrook Capital LLC now owns 3,048 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 518 shares during the period. Hedge funds and other institutional investors own 4.65% of the company’s stock.

Shares of ABB stock traded down $0.10 on Wednesday, hitting $17.84. 89,973 shares of the company traded hands, compared to its average volume of 2,607,353. The firm has a market cap of $38.14 billion, a PE ratio of 13.44, a P/E/G ratio of 3.16 and a beta of 1.15. The company has a quick ratio of 1.09, a current ratio of 1.32 and a debt-to-equity ratio of 0.65. ABB Ltd has a 52 week low of $17.83 and a 52 week high of $24.45. The company’s 50-day moving average price is $19.18.

ABB (NYSE:ABB) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.21 billion. ABB had a net margin of 4.95% and a return on equity of 18.97%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. As a group, research analysts anticipate that ABB Ltd will post 0.86 earnings per share for the current year.

A number of equities research analysts have commented on ABB shares. JPMorgan Chase & Co. restated a “sell” rating and set a $18.00 target price on shares of ABB in a research note on Monday, July 15th. Zacks Investment Research cut shares of ABB from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Royal Bank of Canada restated a “hold” rating and set a $21.00 target price on shares of ABB in a research note on Thursday, July 25th. Deutsche Bank restated a “buy” rating and set a $23.00 target price on shares of ABB in a research note on Friday, July 26th. Finally, Morgan Stanley reiterated a “hold” rating and set a $20.10 price objective on shares of ABB in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.37.

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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