Freestone Capital Holdings LLC grew its holdings in shares of ABB Ltd (NYSE:ABB) by 92.6% in the first quarter, Holdings Channel reports. The institutional investor owned 73,747 shares of the industrial products company’s stock after purchasing an additional 35,455 shares during the period. Freestone Capital Holdings LLC’s holdings in ABB were worth $1,392,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Advisors Inc. lifted its holdings 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 buying an additional 602 shares during the last quarter. Bremer Trust National Association purchased a new stake in ABB during the 4th quarter worth about $26,000. Sontag Advisory LLC purchased a new stake in ABB during the 4th quarter worth about $35,000. We Are One Seven LLC purchased a new stake in ABB during the 4th quarter worth about $37,000. Finally, Osborn Williams & Donohoe LLC purchased a new stake in ABB during the 1st quarter worth about $45,000. 4.72% of the stock is owned by institutional investors.
ABB stock opened at $18.83 on Friday. ABB Ltd has a fifty-two week low of $18.05 and a fifty-two week high of $24.45. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $40.55 billion, a PE ratio of 14.16, a PEG ratio of 2.76 and a beta of 1.09.
ABB (NYSE:ABB) last posted its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The firm had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.82 billion. ABB had a return on equity of 19.31% and a net margin of 6.59%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. On average, equities research analysts expect that ABB Ltd will post 1 EPS for the current year.
Several analysts have recently weighed in on ABB shares. Berenberg Bank downgraded ABB from a “hold” rating to a “sell” rating in a report on Monday, January 28th. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. JPMorgan Chase & Co. reissued a “sell” rating on shares of ABB in a report on Thursday, February 28th. UBS Group reissued a “hold” rating on shares of ABB in a report on Thursday, February 28th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of ABB in a report on Thursday, February 28th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $21.39.
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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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