Columbia Asset Management lifted its stake in ABB Ltd (NYSE:ABB) by 60.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,655 shares of the industrial products company’s stock after purchasing an additional 13,400 shares during the quarter. Columbia Asset Management’s holdings in ABB were worth $673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of ABB. Miller Howard Investments Inc. NY boosted its position in shares of ABB by 1,878.9% in the 1st quarter. Miller Howard Investments Inc. NY now owns 2,324,854 shares of the industrial products company’s stock worth $43,870,000 after purchasing an additional 2,207,371 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of ABB by 235.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,707,608 shares of the industrial products company’s stock worth $32,223,000 after purchasing an additional 1,198,771 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of ABB by 146.1% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 642,130 shares of the industrial products company’s stock worth $12,117,000 after purchasing an additional 381,170 shares in the last quarter. Pennsylvania Trust Co bought a new stake in shares of ABB in the 1st quarter worth approximately $29,914,000. Finally, Morningstar Investment Services LLC bought a new stake in shares of ABB in the 1st quarter worth approximately $6,070,000. 4.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. Deutsche Bank reissued a “buy” rating and issued a $24.00 price target on shares of ABB in a research report on Tuesday, May 21st. ValuEngine raised ABB from a “sell” rating to a “hold” rating in a research report on Monday, June 3rd. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Royal Bank of Canada reaffirmed a “hold” rating on shares of ABB in a research report on Thursday, February 28th. Finally, Berenberg Bank reaffirmed a “sell” rating on shares of ABB in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. ABB has a consensus rating of “Hold” and an average target price of $21.39.

ABB stock opened at $18.83 on Monday. The company has a market capitalization of $40.27 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 2.79 and a beta of 1.11. ABB Ltd has a 12-month low of $18.05 and a 12-month high of $24.45. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52.

ABB (NYSE:ABB) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.06. The business had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.82 billion. ABB had a return on equity of 19.31% and a net margin of 6.59%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. As a group, analysts forecast that ABB Ltd will post 0.99 EPS for the current year.

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ABB Company Profile

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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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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