Benjamin F. Edwards & Company Inc. Reduces ABB Ltd's Stock Holdings

July 21, 2023: Investment firm Benjamin F. Edwards & Company Inc. has recently lowered its stock position in ABB Ltd, a multinational corporation focused on industrial products and automation technology. During the first quarter, the company sold 2,580 ABB stock shares, reducing its position by 43.6%. As a result, Benjamin F. Edwards & Company Inc. now owns 3,335 shares of ABB Ltd, valued at approximately $114,000.

Other Investors’ Actions:

Apart from Benjamin F. Edwards & Company Inc., several other large investors also changed their positions in ABB Ltd. For example, BlackRock Inc. increased its stake in ABB shares by 8.1% during the first quarter. Dimensional Fund Advisors LP and Sei Investments Co. also raised their stakes in ABB by 1.1% and 20.6%, respectively.

ABB’s Market Performance:

As of the latest data, ABB Ltd’s stock was trading up 1.8% on the New York Stock Exchange (NYSE). The company’s stock opened at $39.72 on the given date. ABB’s market capitalization is approximately $74.75 billion, with a price-to-earnings ratio of 25.79 and a beta of 1.11. The stock has experienced a 1-year low of $24.27 and a 1-year high of $40.06.

ABB’s Recent Earnings Results:

In the first quarter, ABB reported strong earnings, with $0.56 earnings per share (EPS). This figure exceeded the consensus estimate of $0.40 per share by $0.16. The company’s revenue for the quarter reached $7.86 billion, outperforming analyst estimates of $7.58 billion. These positive results indicated a 12.8% increase in quarterly revenue compared to the previous year’s period.

Analyst Ratings:

StockNews.com recently initiated coverage of ABB shares, giving the company a “strong-buy” rating. While two investment analysts have rated the stock as a “sell,” one analyst rated it as a “hold,” and another provided a “buy” rating. MarketBeat.com data reveals that ABB currently holds a…

About ABB Ltd:

ABB Ltd. is a multinational corporation headquartered in Zurich, Switzerland. The company was formed in 1988 through a merger between Sweden’s Allmänna Svenska Elektriska Aktiebolaget and Switzerland’s Brown, Boveri & Cie. ABB is involved in various sectors, including industrial products, robotics, and automation technology. The company has a rich history, with its founding entities dating back to the late 1800s as major electrical equipment manufacturers. ABB is traded on the SIX Swiss Exchange in Zurich, Nasdaq Stockholm in Sweden, and the New York Stock Exchange in the United States.

Key Takeaways:

Benjamin F. Edwards & Company Inc. has decreased its stock holdings in ABB Ltd by 43.6% during the first quarter.

Other large investors, such as BlackRock Inc., Dimensional Fund Advisors LP, and Sei Investments Co., have also changed their positions in ABB.

ABB’s stock was trading up 1.8% on the NYSE, with a market capitalization of approximately $74.75 billion.

The company reported robust earnings in the first quarter, surpassing EPS estimates and showing a 12.8% increase in revenue compared to the previous quarter.

Analysts’ opinions on ABB’s stock vary, with some providing a “strong-buy” rating and others giving “sell” and “hold” ratings.