WINTON GROUP Ltd Acquires New Position in Forgent Power Solutions, Inc. $FPS

WINTON GROUP Ltd bought a new position in shares of Forgent Power Solutions, Inc. (NYSE:FPS) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 37,500 shares of the company’s stock, valued at approximately $2,095,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FPS. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Forgent Power Solutions in the second quarter worth $30,000. Triumph Capital Management acquired a new stake in shares of Forgent Power Solutions in the second quarter valued at $39,000. IFP Advisors Inc purchased a new position in Forgent Power Solutions in the second quarter valued at $48,000. Hollencrest Capital Management acquired a new position in Forgent Power Solutions during the 2nd quarter worth $56,000. Finally, Allworth Financial LP acquired a new position in Forgent Power Solutions during the 2nd quarter worth $86,000.

Forgent Power Solutions Stock Up 9.0%

Shares of NYSE FPS opened at $31.82 on Friday. The business has a 50-day moving average of $36.27 and a two-hundred day moving average of $40.21. The company has a market capitalization of $9.69 billion and a price-to-earnings ratio of 212.10. Forgent Power Solutions, Inc. has a 1 year low of $25.95 and a 1 year high of $66.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.64 and a quick ratio of 1.16.

Wall Street Analyst Weigh In

FPS has been the topic of a number of analyst reports. Weiss Ratings lowered Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group boosted their price objective on Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. TD Cowen upped their target price on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. TD Securities reiterated a “buy” rating and issued a $63.00 price target on shares of Forgent Power Solutions in a research note on Friday, May 15th. Finally, KeyCorp boosted their price target on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Forgent Power Solutions has an average rating of “Moderate Buy” and a consensus target price of $56.75.

About Forgent Power Solutions

Forgent Power Solutions, Inc develops and manufactures products used in electric power transmission and distribution infrastructure. Its offerings support the generation, transmission, distribution and management of electrical power for utility and industrial applications.

The company’s product portfolio includes equipment and components used in overhead and underground power networks, including electrical connectors, fittings, line hardware and other engineered solutions designed to support the reliability and efficiency of power-delivery systems.

Forgent Power Solutions serves electric utilities, distributors and industrial customers, primarily through markets connected to North American power infrastructure.