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

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

Other research analysts have also recently issued reports about the company. Barclays reiterated an “overweight” rating on shares of Schneider Electric in a research note on Monday, October 5th. Zacks Research lowered Schneider Electric from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Santander cut Schneider Electric from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 8th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Schneider Electric in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Schneider Electric has an average rating of “Moderate Buy”.

Schneider Electric Stock Performance

Shares of Schneider Electric stock opened at $52.65 on Wednesday. Schneider Electric has a fifty-two week low of $50.61 and a fifty-two week high of $71.98. The company’s 50 day moving average price is $64.55 and its two-hundred day moving average price is $63.78.

Institutional Trading of Schneider Electric

Institutional investors have recently added to or reduced their stakes in the stock. Madison Asset Management LLC boosted its stake in Schneider Electric by 2.7% in the 2nd quarter. Madison Asset Management LLC now owns 246,582 shares of the industrial products company’s stock worth $16,072,000 after purchasing an additional 6,591 shares during the period. Azimuth Capital Investment Management LLC purchased a new position in Schneider Electric during the 2nd quarter valued at about $11,623,000. Elefante Mark B increased its position in shares of Schneider Electric by 10.0% during the second quarter. Elefante Mark B now owns 96,539 shares of the industrial products company’s stock valued at $6,292,000 after buying an additional 8,800 shares during the period. Finally, Notis McConarty Edward increased its position 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 buying an additional 425 shares during the period. Hedge funds and other institutional investors own 0.83% of the company’s stock.

About Schneider Electric

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.