Schneider Electric (OTCMKTS:SBGSY) Downgraded by Erste Group Bank to Hold

Erste Group Bank lowered shares of Schneider Electric (OTCMKTS:SBGSY) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks reports.

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

Schneider Electric Trading Down 5.5%

Shares of Schneider Electric stock opened at $52.65 on Wednesday. The business’s fifty day moving average price is $64.55 and its 200 day moving average price is $63.78. Schneider Electric has a twelve month low of $50.61 and a twelve month high of $71.98.

Institutional Investors Weigh In On Schneider Electric

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

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.