Benjamin F. Edwards & Company Inc. Raises Stock Holdings in ABB Ltd (NYSE:ABB)

Posted by on May 8th, 2023

Benjamin F. Edwards & Company Inc. grew its stake in ABB Ltd (NYSE:ABB – Get Rating) by 23.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,915 shares of the industrial products company’s stock after acquiring an additional 1,116 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in ABB were worth $180,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its stake in shares of ABB by 3.6% in the fourth quarter. AE Wealth Management LLC now owns 10,192 shares of the industrial products company’s stock valued at $310,000 after buying an additional 355 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in ABB by 1.2% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 30,121 shares of the industrial products company’s stock valued at $773,000 after purchasing an additional 367 shares during the last quarter. Cetera Investment Advisers boosted its holdings in ABB by 5.5% in the first quarter. Cetera Investment Advisers now owns 7,404 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 384 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in ABB by 1.1% in the third quarter. Verdence Capital Advisors LLC now owns 37,628 shares of the industrial products company’s stock valued at $966,000 after purchasing an additional 400 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in ABB by 23.5% in the first quarter. 1832 Asset Management L.P. now owns 2,135 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 406 shares during the last quarter. 5.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on ABB in a report on Thursday, March 16th. They issued a “strong-buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ABB has a consensus rating of “Hold” and a consensus target price of $28.68.

ABB Trading Up 0.8 %

NYSE:ABB opened at $35.99 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.15 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $34.12 and its two-hundred day moving average is $32.49. ABB Ltd has a 52 week low of $24.27 and a 52 week high of $36.97. The company has a market cap of $70.71 billion, a PE ratio of 23.37, a P/E/G ratio of 3.56 and a beta of 1.11.

ABB (NYSE:ABB – Get Rating) last released its earnings results on Monday, April 24th. The industrial products company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.16. The company had revenue of $7.86 billion for the quarter, compared to the consensus estimate of $7.58 billion. ABB had a return on equity of 23.19% and a net margin of 9.58%. ABB’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. On average, analysts predict that ABB Ltd will post 1.62 EPS for the current 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.

See Also

Institutional Ownership by Quarter for ABB (NYSE:ABB)

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