Trillium Asset Management LLC Raises Stake in ABB Ltd. (ABB)
Trillium Asset Management LLC boosted its position in ABB Ltd. (NYSE:ABB) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 722,362 shares of the company’s stock after buying an additional 2,234 shares during the period. Trillium Asset Management LLC’s holdings in ABB were worth $14,324,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in ABB. Grandfield & Dodd LLC boosted its stake in ABB by 3.1% in the second quarter. Grandfield & Dodd LLC now owns 606,866 shares of the company’s stock worth $12,034,000 after buying an additional 18,523 shares in the last quarter. Cardinal Capital Management boosted its stake in shares of ABB by 3.6% in the second quarter. Cardinal Capital Management now owns 73,027 shares of the company’s stock worth $1,448,000 after buying an additional 2,507 shares during the period. Conning Inc. bought a new stake in shares of ABB during the second quarter worth approximately $3,514,000. Smith Asset Management Group LP bought a new stake in shares of ABB during the second quarter worth approximately $186,000. Finally, Trutina Financial LLC bought a new stake in shares of ABB during the second quarter worth approximately $3,445,000. Institutional investors and hedge funds own 3.27% of the company’s stock.
Shares of ABB Ltd. (NYSE:ABB) traded up 0.22% on Tuesday, reaching $22.57. The company had a trading volume of 1,925,835 shares. The stock has a market capitalization of $48.01 billion, a PE ratio of 29.27 and a beta of 1.20. ABB Ltd. has a 52-week low of $15.74 and a 52-week high of $22.88. The company has a 50 day moving average price of $22.23 and a 200 day moving average price of $20.83.
ABB (NYSE:ABB) last released its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. The firm earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. ABB had a return on equity of 16.86% and a net margin of 4.91%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. On average, equities research analysts anticipate that ABB Ltd. will post $1.08 earnings per share for the current year.
A number of brokerages have commented on ABB. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a report on Monday, June 13th. Deutsche Bank AG upgraded ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. BNP Paribas upgraded ABB from an “underperform” rating to an “outperform” rating in a report on Thursday, September 1st. Finally, Goldman Sachs Group Inc. reiterated a “sell” rating on shares of ABB in a report on Thursday, September 22nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.30.
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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