FirstWave Capital Management LLC Acquires Shares of 77,617 Forgent Power Solutions, Inc. $FPS

FirstWave Capital Management LLC acquired a new position in shares of Forgent Power Solutions, Inc. (NYSE:FPS) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 77,617 shares of the company’s stock, valued at approximately $4,336,000. Forgent Power Solutions accounts for about 1.9% of FirstWave Capital Management LLC’s investment portfolio, making the stock its 14th largest position.

Several other institutional investors have also recently added to or reduced their stakes in FPS. Northwestern Mutual Wealth Management Co. purchased a new stake in Forgent Power Solutions during the 2nd quarter valued at approximately $30,000. Triumph Capital Management purchased a new position in shares of Forgent Power Solutions in the 2nd quarter valued at approximately $39,000. Hollencrest Capital Management acquired a new position in shares of Forgent Power Solutions in the second quarter valued at approximately $56,000. Nykredit A S acquired a new stake in shares of Forgent Power Solutions during the second quarter worth $194,000. Finally, Secure Asset Management LLC acquired a new position in Forgent Power Solutions in the 2nd quarter valued at $237,000.

Forgent Power Solutions Trading Up 2.5%

NYSE:FPS opened at $31.36 on Friday. The company has a market capitalization of $9.55 billion and a PE ratio of 209.07. Forgent Power Solutions, Inc. has a 52-week low of $25.95 and a 52-week high of $66.00. The stock has a fifty day simple moving average of $38.25 and a 200-day simple moving average of $40.29. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.99.

Wall Street Analyst Weigh In

FPS has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Weiss Ratings cut Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. TD Cowen lifted their price target on Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Oppenheimer increased their price objective on Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, Zacks Research upgraded shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Forgent Power Solutions has a consensus rating of “Moderate Buy” and an average target price of $56.75.

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.