CAPROCK Group Inc. Cuts Stake in ABB Ltd (NYSE:ABB)

CAPROCK Group Inc. reduced its position in ABB Ltd (NYSE:ABB) by 26.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,211 shares of the industrial products company’s stock after selling 2,622 shares during the quarter. CAPROCK Group Inc.’s holdings in ABB were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABB. Liberty Wealth Management LLC grew its holdings in ABB by 288.3% in the second quarter. Liberty Wealth Management LLC now owns 932 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 692 shares during the last quarter. BDO Wealth Advisors LLC grew its holdings in shares of ABB by 145.8% during the first quarter. BDO Wealth Advisors LLC now owns 983 shares of the industrial products company’s stock valued at $30,000 after buying an additional 583 shares during the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in shares of ABB during the first quarter valued at $38,000. Ameritas Investment Company LLC purchased a new stake in shares of ABB during the first quarter valued at $49,000. Finally, WealthShield Partners LLC grew its holdings in shares of ABB by 25.0% during the second quarter. WealthShield Partners LLC now owns 1,442 shares of the industrial products company’s stock valued at $49,000 after buying an additional 288 shares during the last quarter. 4.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:ABB opened at $33.81 on Thursday. The company has a market cap of $69.42 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 4.35 and a beta of 1.04. The firm’s 50-day simple moving average is $35.98 and its 200-day simple moving average is $34.64. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 0.31. ABB Ltd has a fifty-two week low of $24.07 and a fifty-two week high of $38.03.

ABB (NYSE:ABB) last announced its quarterly earnings data on Wednesday, July 21st. The industrial products company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. ABB had a net margin of 20.29% and a return on equity of 15.37%. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, research analysts forecast that ABB Ltd will post 1.36 EPS for the current year.

A number of brokerages have recently weighed in on ABB. Barclays set a $36.78 price objective on shares of ABB and gave the company an “equal weight” rating in a report on Friday, July 23rd. Morgan Stanley set a $36.61 price target on shares of ABB and gave the company an “underweight” rating in a report on Friday, July 23rd. UBS Group set a $36.78 price target on shares of ABB and gave the company a “buy” rating in a report on Friday, July 23rd. The Goldman Sachs Group raised shares of ABB from a “buy” rating to a “conviction-buy” rating in a report on Thursday, July 8th. Finally, Zacks Investment Research downgraded shares of ABB from a “buy” rating to a “hold” rating and set a $39.00 price objective for the company. in a research report on Wednesday, September 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.88.

ABB Profile

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, Industrial Automation, Motion, Robotics & Discrete Automation and Corporate and Other. The Electrification segment manufactures and sells products and solutions which are designed to provide safer electrical flow from the substation to the socket.

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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