|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||157.38 - 160.98|
|52 Week Range||81.69 - 161.51|
|Beta (5Y Monthly)||0.90|
|PE Ratio (TTM)||34.99|
|Forward Dividend & Yield||3.15 (1.99%)|
|Ex-Dividend Date||May 10, 2021|
|1y Target Est||N/A|
A consortium of investors led by French electrical equipment group Schneider Electric and U.S. electric utility AES Corp are investing in Uplight, valuing the utility software firm at $1.5 billion, the companies said on Wednesday. A group of private equity investors led by Huck Capital will also participate in the funding round. Uplight, which makes software products focused on clean energy, will use the funding for acquisitions and international expansion, it said.
Donald Trump won the U.S. presidency four years ago, in part, by a promise to Midwest factory workers that he would stop companies like Schneider Electric SE from moving jobs out of the country. Schneider’s plant, which produced electrical equipment near the center of this tiny town north of Indianapolis, closed in April, shedding 306 jobs. Regina McDowell, who worked there 42 years and said it was the only job she ever had other than teenage babysitting, said she went through a “bit of a depression” when it closed.
Schneider, whose products range from electrical car chargers to industrial robotics, now expects revenue to fall 5%-7% this year, compared with a slide of 7%-10% it forecast in July, lifting it above a company-provided analysts' consensus forecast. The company also upgraded its full-year core profit margin target to 15.1%-15.4% from 14.5%-15.0% previously, and confirmed its aim to increase this to around 17% by 2022. Schneider's quarterly revenue has risen for the first time this year, compared with 2019, helped by its energy management division - which serves buildings, data centres and infrastructure, and posted growth across all its regions.