In the ever-evolving world of finance, an institutional investor’s ability to make market-changing moves is critical. Among these investors stands Fisher Asset Management LLC, whose recent 0.9% increase in holdings on ABB Ltd (NYSE:ABB) has stirred up some buzz. According to the company’s latest disclosure with the Securities and Exchange Commission (SEC), Fisher Asset Management LLC now owns a total of 20,864,281 shares in the industrial products company after purchasing an additional 196,230 shares during the fourth quarter. The stock’s value amounted to $635,526,000 as of its most recent SEC filing.
This record comes after ABB released its earnings results on February 2nd. The industrial products company impressed investors by reporting $0.60 earnings per share (EPS) for the quarter – beating their consensus estimate by $0.21. Financial analysts predicted that ABB would post an EPS of 1.64 for the current year.
Financial experts have become more interested in hedge funds’ activity over the years because they can disrupt financial markets when making major transactions like this one of Fisher Asset Management LLC buying more shares in ABB Ltd. Thus, if an investor wants to get fully involved in what is happening inside a company or industry group at any given moment – especially those represented in institutional portfolios such as Fisher Asset Management LLC’s – it is best to check out HoldingsChannel.com.
HoldingsChannel.com gathers information from U.S.-based public filings involving hedge funds and other institutional investors and provides comprehensive coverage of their financial activity every trading day—so it’s always up-to-date. The site compiles regulatory filings made under Section 13D or Section 13F of federal securities laws and also reports insider trades filed by publicly traded companies with offices located within the United States.
For investors interested in getting a deeper understanding of shareholdings across various industries, there are few better resources than HoldingsChannel.com. With the current flux in ABB’s stock and Fisher Asset Management LLC’s involvement, this site has become even more relevant.
ABB: Riding the Wave of Institutional Investment Interest[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”ABB” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]
ABB: A Company on the Rise
ABB Ltd. is a technology company that develops and provides electrification, motion, and automation solutions to industries all over the world. While the company has been making moves for the past couple of years, it seems recent quarters that have seen their stock experience a surge in institutional investment interest.
Institutional investors, such as hedge funds, have been buying up shares of ABB which has caused an uptrend. This trend can be attributed to companies like Rockefeller Capital Management L.P., Chevy Chase Trust Holdings LLC, Crossmark Global Holdings Inc., Folketrygdfondet, and Goldman Sachs Group Inc. who boosted their stake in ABB by a significant percentage in just the past year alone.
For instance, Rockefeller Capital Management L.P., one of the companies listed above, increased its stake by 132.9% in the third quarter of 2022; now owning 675,973 shares worth $17,344,000 more than before. Meanwhile, Chevy Chase Trust Holdings LLC grew its holdings by 21.2%, Crossmark Global Holdings Inc elevated by 244.3%, Folketrygdfondet increased by 53.6%, and Goldman Sachs Group Inc increased by another 11.6%. Collectively these firms own roughly 5.24% of ABB’s stock.
The market capitalization of ABB is approximately $69 billion dollars with a PEG ratio of 3.49 and a beta of 1.10 at time of writing (April 22nd). The company operates via four segments: Electrification (which manufactures electrical products), Motion (which deals with industry movement i.e., conveyor belts), Process Automation (which focuses on industrial automation), and Robotics & Discrete Automation segments (which provide robots for various applications).
As previously mentioned over several decades past but especially recently it seems some major players are banking on ABB’s future prospects. While various analysts have found evident downsides to the company, such as Goldman Sachs who asserts their stock is overvalued; data from Bloomberg indicates that presently, the stock has a consensus rating of “Hold” with an average price target of $29.54.
In summary, ABB Ltd. is undoubtedly a company on the rise within its particular industry niche thanks largely due to its proprietary technologies and holistic approach to providing comprehensive solutions for today’s manufacturing automation challenges.