Schneider Electric (OTCMKTS:SBGSY) Rating Lowered to Hold at Erste Group Bank

Schneider Electric (OTCMKTS:SBGSY) was downgraded by investment analysts at Erste Group Bank from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

Several other research firms have also commented on SBGSY. Morgan Stanley restated an “overweight” rating on shares of Schneider Electric in a research report on Monday, June 29th. Santander downgraded shares of Schneider Electric from an “outperform” rating to a “neutral” rating in a research report on Tuesday, September 8th. Zacks Research cut Schneider Electric from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Finally, Barclays reissued an “overweight” rating on shares of Schneider Electric in a report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Schneider Electric presently has a consensus rating of “Moderate Buy”.

Schneider Electric Stock Performance

Shares of SBGSY opened at $52.65 on Wednesday. Schneider Electric has a 12 month low of $50.61 and a 12 month high of $71.98. The stock has a fifty day moving average price of $64.55 and a 200 day moving average price of $63.78.

Hedge Funds Weigh In On Schneider Electric

Several hedge funds have recently modified their holdings of the company. Madison Asset Management LLC raised its position in Schneider Electric by 2.7% in the second quarter. Madison Asset Management LLC now owns 246,582 shares of the industrial products company’s stock worth $16,072,000 after acquiring an additional 6,591 shares in the last quarter. Azimuth Capital Investment Management LLC bought a new position in shares of Schneider Electric in the second quarter valued at $11,623,000. Elefante Mark B lifted its position in shares of Schneider Electric by 10.0% during the 2nd quarter. Elefante Mark B now owns 96,539 shares of the industrial products company’s stock valued at $6,292,000 after acquiring an additional 8,800 shares during the last quarter. Finally, Notis McConarty Edward lifted its position in shares of Schneider Electric by 0.5% during the 2nd quarter. Notis McConarty Edward now owns 85,119 shares of the industrial products company’s stock valued at $5,548,000 after acquiring an additional 425 shares during the last quarter. 0.83% of the stock is currently owned by institutional investors and hedge funds.

Schneider Electric Company Profile

Schneider Electric SE is a France-based multinational company specializing in energy management and industrial automation. Its offerings help businesses, infrastructure operators, data centers, buildings and residential customers distribute, control, monitor and optimize electricity while improving operational efficiency and sustainability.

The company provides electrical distribution equipment, circuit breakers, switchgear, power management systems, industrial automation and control technologies, building-management solutions, and data-center infrastructure.