Tidal Investments LLC Takes Position in Forgent Power Solutions, Inc. $FPS

Tidal Investments LLC bought a new position in shares of Forgent Power Solutions, Inc. (NYSE:FPS) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 140,667 shares of the company’s stock, valued at approximately $7,858,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FPS. California State Teachers Retirement System bought a new position in Forgent Power Solutions in the 2nd quarter valued at about $510,943,000. Value Aligned Research Advisors LLC acquired a new position in shares of Forgent Power Solutions in the second quarter valued at approximately $176,441,000. Spyglass Capital Management LLC bought a new position in shares of Forgent Power Solutions during the second quarter worth approximately $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Forgent Power Solutions during the 2nd quarter worth approximately $23,123,000. Finally, Bank of New York Mellon Corp lifted its holdings in Forgent Power Solutions by 813.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company’s stock worth $18,228,000 after purchasing an additional 290,577 shares during the last quarter.

Forgent Power Solutions Stock Performance

FPS opened at $31.82 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.64. Forgent Power Solutions, Inc. has a 52-week low of $25.95 and a 52-week high of $66.00. The firm has a market cap of $9.69 billion and a P/E ratio of 212.10. The business’s fifty day moving average is $36.27 and its 200-day moving average is $40.21.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley upped their price objective on Forgent Power Solutions from $38.00 to $51.00 and gave the company an “equal weight” rating in a report on Sunday, May 17th. Wolfe Research reissued an “outperform” rating and issued a $60.00 target price on shares of Forgent Power Solutions in a research report on Thursday, July 9th. TD Cowen upped their price target on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Robert W. Baird began coverage on shares of Forgent Power Solutions in a research report on Wednesday, July 15th. They set an “outperform” rating and a $55.00 price target on the stock. Finally, Zacks Research lowered shares of Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.75.

Forgent Power Solutions Profile

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.