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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Ericsson AB    ERIC B   SE0000108656

ERICSSON AB

(ERIC B)
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Activist investor Cevian reduces stake in ABB to under 5%

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08/04/2020 | 02:31pm EDT
FILE PHOTO: Logo of Swiss power technology and automation group ABB is seen at the Swiss Economic Forum conference in Interlaken

Activist shareholder Cevian Capital has reduced its stake in ABB Ltd to less than 5%, according to data on the engineering company's website.

Cevian, which campaigned for a separation of ABB's Power Grids business, now holds 4.89% in the maker of electric car charging stations and industrial robots.

The holding is a reduction from its 5.34% stake at the end of 2019, according to ABB's annual report.

A spokesman for Cevian said the change reflected a rebalancing of the investor's portfolio due to the recent gains by ABB's stock. The company's shares have gained more than 65% since bottoming out at 14.11 Swiss francs in March.

ABB remained a key holding for Cevian and was one of the investor's largest holdings, the spokesman said.

Cevian manages 13 billion euros (11.72 billion pounds) in investments, including holdings in Irish building materials company CRH, Swedish technology company Ericsson and German industrial group ThyssenKrupp.

(Reporting by John Revill and Oliver Hirt in Zurich; Editing by Matthew Lewis)

Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD -0.38% 23.46 Delayed Quote.0.64%
CRH PLC -1.36% 31.19 Delayed Quote.-11.30%
ERICSSON AB -0.29% 96.92 Delayed Quote.19.05%
THYSSENKRUPP AG -1.83% 4.353 Delayed Quote.-63.24%
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Financials
Sales 2020 234 B 25 877 M 25 877 M
Net income 2020 14 309 M 1 584 M 1 584 M
Net cash 2020 17 257 M 1 910 M 1 910 M
P/E ratio 2020 22,8x
Yield 2020 1,79%
Capitalization 325 B 35 840 M 35 972 M
EV / Sales 2020 1,32x
EV / Sales 2021 1,22x
Nbr of Employees 99 800
Free-Float 89,0%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 107,86 SEK
Last Close Price 97,10 SEK
Spread / Highest target 37,0%
Spread / Average Target 11,1%
Spread / Lowest Target -11,4%
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Managers
NameTitle
Erik Börje Ekholm President, Chief Executive Officer & Director
Ronnie Leten Chairman
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Erik Ekudden Chief Technology Officer & Senior Vice President
Torbjörn Nyman Director
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