ABB Ltd. (ABB) Stake Lowered by Hamlin Capital Management LLC
Hamlin Capital Management LLC reduced its position in ABB Ltd. (NYSE:ABB) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,025,438 shares of the company’s stock after selling 47,399 shares during the period. ABB accounts for about 2.9% of Hamlin Capital Management LLC’s portfolio, making the stock its 19th largest position. Hamlin Capital Management LLC owned 0.14% of ABB worth $59,994,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Simmons Bank acquired a new stake in ABB during the first quarter worth $455,000. Geode Capital Management LLC boosted its stake in ABB by 11.9% in the first quarter. Geode Capital Management LLC now owns 13,612 shares of the company’s stock worth $264,000 after buying an additional 1,451 shares during the last quarter. UBS Group AG boosted its stake in ABB by 47.5% in the first quarter. UBS Group AG now owns 856,662 shares of the company’s stock worth $16,636,000 after buying an additional 275,986 shares during the last quarter. Willis Investment Counsel boosted its stake in ABB by 0.8% in the first quarter. Willis Investment Counsel now owns 341,000 shares of the company’s stock worth $6,622,000 after buying an additional 2,700 shares during the last quarter. Finally, Motley Fool Wealth Management LLC boosted its stake in ABB by 10.7% in the first quarter. Motley Fool Wealth Management LLC now owns 121,205 shares of the company’s stock worth $2,354,000 after buying an additional 11,666 shares during the last quarter. 3.27% of the stock is owned by hedge funds and other institutional investors.
ABB Ltd. (NYSE:ABB) traded up 0.93% during trading on Wednesday, hitting $22.70. The company’s stock had a trading volume of 1,634,329 shares. The firm has a market cap of $48.28 billion, a PE ratio of 29.44 and a beta of 1.33. The company has a 50-day moving average of $22.16 and a 200 day moving average of $20.73. ABB Ltd. has a one year low of $15.74 and a one year high of $22.88.
ABB (NYSE:ABB) last posted its earnings results on Thursday, July 21st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.26 by $0.09. The firm had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.83 billion. ABB had a return on equity of 16.86% and a net margin of 4.91%. ABB’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, equities analysts forecast that ABB Ltd. will post $1.08 earnings per share for the current year.
A number of analysts have recently weighed in on the company. Goldman Sachs Group Inc. reissued a “sell” rating on shares of ABB in a research report on Thursday, September 22nd. HSBC cut ABB from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. BNP Paribas raised ABB from an “underperform” rating to an “outperform” rating in a research report on Thursday, September 1st. Finally, Deutsche Bank AG raised ABB from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.30.
ABB Company Profile
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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