Natixis Advisors L.P. Decreases Stake in ABB Ltd (NYSE:ABB)

Posted by on Apr 12th, 2023

Natixis Advisors L.P. reduced its stake in shares of ABB Ltd (NYSE:ABB – Get Rating) by 8.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 522,074 shares of the industrial products company’s stock after selling 47,929 shares during the period. Natixis Advisors L.P.’s holdings in ABB were worth $15,902,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ABB. AXA S.A. purchased a new stake in shares of ABB in the 3rd quarter worth about $25,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of ABB in the 4th quarter worth about $41,000. Guardian Wealth Advisors LLC purchased a new stake in shares of ABB in the 3rd quarter worth about $40,000. Ronald Blue Trust Inc. boosted its position in shares of ABB by 179.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,599 shares of the industrial products company’s stock worth $41,000 after buying an additional 1,026 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its position in shares of ABB by 62.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,742 shares of the industrial products company’s stock worth $47,000 after buying an additional 671 shares in the last quarter. 5.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of ABB in a research report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ABB currently has a consensus rating of “Hold” and an average target price of $29.54.

ABB Trading Up 2.2 %

Shares of ABB stock opened at $33.87 on Wednesday. The firm has a 50-day moving average price of $33.52 and a 200 day moving average price of $31.23. ABB Ltd has a twelve month low of $24.27 and a twelve month high of $35.54. The company has a market capitalization of $66.55 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 3.28 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39.

ABB (NYSE:ABB – Get Rating) last announced its earnings results on Thursday, February 2nd. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.21. ABB had a net margin of 8.41% and a return on equity of 19.52%. The firm had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $7.58 billion. Research analysts forecast that ABB Ltd will post 1.62 earnings per share for the current fiscal year.

ABB Profile

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ABB Ltd. is a technology company, which engages in the development and provision of electrification, motion and automation solutions. It operates through the following business segments: Electrification, Motion, Process Automation and Robotics & Discrete Automation. The Electrification segment manufactures and sells electrical products and solutions which are designed to provide safe, smart and sustainable electrical flow from the substation to the socket.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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