Envestnet Asset Management Inc. Buys 50,080 Shares of ABB Ltd (NYSE:ABB)

Envestnet Asset Management Inc. raised its holdings in ABB Ltd (NYSE:ABB) by 17.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 345,486 shares of the industrial products company’s stock after acquiring an additional 50,080 shares during the quarter. Envestnet Asset Management Inc.’s holdings in ABB were worth $6,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its position in shares of ABB by 4.9% during the 1st quarter. BlackRock Inc. now owns 4,550,948 shares of the industrial products company’s stock worth $85,877,000 after buying an additional 214,224 shares in the last quarter. Mondrian Investment Partners LTD grew its position in shares of ABB by 13.5% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,366,618 shares of the industrial products company’s stock worth $44,658,000 after buying an additional 281,263 shares in the last quarter. Miller Howard Investments Inc. NY grew its position in shares of ABB by 1,878.9% during 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 buying an additional 2,207,371 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of ABB by 2.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,992,437 shares of the industrial products company’s stock worth $37,597,000 after buying an additional 41,614 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of ABB by 3.6% during the 4th quarter. Stifel Financial Corp now owns 1,905,128 shares of the industrial products company’s stock worth $36,226,000 after buying an additional 65,734 shares in the last quarter. 4.93% of the stock is currently owned by institutional investors.

Shares of NYSE ABB opened at $19.26 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.23 and a quick ratio of 0.98. The firm has a market cap of $41.55 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.87 and a beta of 1.11. ABB Ltd has a 1-year low of $18.05 and a 1-year high of $24.45.

ABB (NYSE:ABB) last issued its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. The firm had revenue of $6.85 billion during 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 business posted $0.31 EPS. As a group, equities analysts forecast that ABB Ltd will post 0.99 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on ABB shares. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. JPMorgan Chase & Co. reissued a “sell” rating on shares of ABB in a research report on Thursday, February 28th. UBS Group reissued a “hold” rating on shares of ABB in a research report on Thursday, February 28th. Royal Bank of Canada reissued a “hold” rating on shares of ABB in a research report on Thursday, February 28th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of ABB in a research report on Thursday, February 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $21.39.

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About ABB

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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