Fortitude Advisory Group L.L.C. Purchases 35,075 Shares of Forgent Power Solutions, Inc. $FPS

Fortitude Advisory Group L.L.C. acquired a new stake in Forgent Power Solutions, Inc. (NYSE:FPS) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 35,075 shares of the company’s stock, valued at approximately $1,313,000.

Several other hedge funds have also added to or reduced their stakes in the business. Value Aligned Research Advisors LLC bought a new position in Forgent Power Solutions during the second quarter worth about $176,441,000. State Street Corp bought a new stake in shares of Forgent Power Solutions in the second quarter worth about $118,073,000. Assenagon Asset Management S.A. increased its holdings in shares of Forgent Power Solutions by 177.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company’s stock worth $71,153,000 after acquiring an additional 1,216,571 shares in the last quarter. Spyglass Capital Management LLC bought a new stake in shares of Forgent Power Solutions in the second quarter worth about $39,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Forgent Power Solutions during the second quarter worth about $23,123,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FPS shares. Weiss Ratings cut Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Robert W. Baird started coverage on Forgent Power Solutions in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price objective for the company. TD Cowen increased their target price on Forgent Power Solutions from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Wells Fargo & Company started coverage on shares of Forgent Power Solutions in a report on Thursday, September 24th. They set an “equal weight” rating and a $44.00 target price on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $60.00 price target on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.07.

Forgent Power Solutions Trading Down 0.7%

Shares of NYSE:FPS opened at $32.46 on Friday. The company’s 50-day moving average price is $35.28 and its two-hundred day moving average price is $40.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 1.07. Forgent Power Solutions, Inc. has a one year low of $25.95 and a one year high of $66.00. The stock has a market capitalization of $9.88 billion and a PE ratio of 83.23.

Forgent Power Solutions (NYSE:FPS) last posted its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $461.67 million during the quarter. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. The business’s revenue for the quarter was up 94.3% on a year-over-year basis. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. On average, equities analysts forecast that Forgent Power Solutions, Inc. will post 1.28 EPS for the current fiscal year.

About Forgent Power Solutions

Forgent Power Solutions, Inc is an electrical infrastructure company that provides equipment and related solutions used in power generation, transmission, distribution and industrial applications. Its offerings support the delivery, control and management of electricity across utility and commercial power systems.

The company’s products and services include transformers, switchgear, substations and other electrical distribution equipment. These solutions are used by electric utilities, industrial customers, commercial facilities and other organizations that require reliable power infrastructure.

Forgent Power Solutions serves customers involved in the North American power and electrical infrastructure markets.