ABB Ltd (NYSE:ABB) Position Reduced by Quadrant Capital Group LLC

Quadrant Capital Group LLC lowered its stake in ABB Ltd (NYSE:ABBGet Rating) by 33.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,589 shares of the industrial products company’s stock after selling 2,782 shares during the period. Quadrant Capital Group LLC’s holdings in ABB were worth $181,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. CIBC Asset Management Inc bought a new position in shares of ABB in the first quarter valued at $235,000. Americana Partners LLC increased its holdings in shares of ABB by 135.8% in the first quarter. Americana Partners LLC now owns 31,109 shares of the industrial products company’s stock valued at $222,000 after buying an additional 17,915 shares in the last quarter. CPR Investments Inc. increased its holdings in shares of ABB by 4.5% in the first quarter. CPR Investments Inc. now owns 8,550 shares of the industrial products company’s stock valued at $277,000 after buying an additional 367 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of ABB by 4.7% in the first quarter. Fisher Asset Management LLC now owns 19,079,817 shares of the industrial products company’s stock valued at $617,041,000 after buying an additional 861,832 shares in the last quarter. Finally, MCF Advisors LLC acquired a new stake in ABB during the 1st quarter valued at $38,000. Institutional investors own 14.37% of the company’s stock.

Analyst Ratings Changes

ABB has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of ABB from CHF 27 to CHF 27.20 in a research note on Tuesday, July 5th. Stifel Nicolaus initiated coverage on shares of ABB in a research note on Thursday, June 30th. They set a “buy” rating on the stock. Bank of America downgraded shares of ABB from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 6th. UBS Group cut their target price on shares of ABB from CHF 37 to CHF 35 in a research note on Friday, July 22nd. Finally, Citigroup downgraded shares of ABB from a “buy” rating to a “neutral” rating in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.03.

ABB Trading Down 1.4 %

ABB stock opened at $29.69 on Friday. The company’s fifty day simple moving average is $28.30 and its 200-day simple moving average is $31.07. The company has a quick ratio of 0.73, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. ABB Ltd has a 12 month low of $25.80 and a 12 month high of $39.11. The stock has a market cap of $58.33 billion, a P/E ratio of 13.75, a P/E/G ratio of 3.56 and a beta of 1.09.

ABB Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, May 11th. Investors of record on Tuesday, March 29th were issued a $0.53 dividend. This represents a yield of 1.86%. The ex-dividend date of this dividend was Monday, March 28th. ABB’s dividend payout ratio is presently 24.54%.

ABB Company Profile

(Get Rating)

ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

Further Reading

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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