Squarepoint Ops LLC Takes $13.44 Million Position in Forgent Power Solutions, Inc. $FPS

Squarepoint Ops LLC bought a new position in Forgent Power Solutions, Inc. (NYSE:FPS) during the 2nd quarter, Holdings Channel reports. The firm bought 240,607 shares of the company’s stock, valued at approximately $13,440,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in Forgent Power Solutions by 813.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company’s stock valued at $18,228,000 after purchasing an additional 290,577 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Forgent Power Solutions in the second quarter valued at $2,034,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Forgent Power Solutions in the second quarter valued at $23,123,000. Hollencrest Capital Management bought a new position in shares of Forgent Power Solutions in the second quarter valued at about $56,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Forgent Power Solutions during the 2nd quarter worth about $30,000.

Analyst Ratings Changes

A number of brokerages have commented on FPS. Oppenheimer increased their price objective on shares of Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Morgan Stanley boosted their target price on shares of Forgent Power Solutions from $38.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Sunday, May 17th. The Goldman Sachs Group increased their price target on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, May 15th. KeyCorp raised their price target on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Finally, TD Securities restated a “buy” rating and issued a $63.00 price objective on shares of Forgent Power Solutions in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Forgent Power Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.75.

Forgent Power Solutions Stock Down 3.8%

NYSE:FPS opened at $31.07 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.99. Forgent Power Solutions, Inc. has a 12-month low of $25.95 and a 12-month high of $66.00. The stock’s fifty day simple moving average is $36.93 and its 200-day simple moving average is $40.30. The firm has a market capitalization of $9.46 billion and a P/E ratio of 207.11.

About Forgent Power Solutions

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.