Spyglass Capital Management LLC Takes Position in Forgent Power Solutions, Inc. $FPS

Spyglass Capital Management LLC bought a new position in Forgent Power Solutions, Inc. (NYSE:FPS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 705,361 shares of the company’s stock, valued at approximately $39,401,000. Forgent Power Solutions makes up 2.1% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 25th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Kerrisdale Advisers LLC bought a new position in Forgent Power Solutions in the 2nd quarter worth about $6,512,000. Moore Capital Management LP bought a new stake in shares of Forgent Power Solutions during the second quarter valued at approximately $10,401,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Forgent Power Solutions during the second quarter worth approximately $30,000. Hollencrest Capital Management acquired a new stake in Forgent Power Solutions in the 2nd quarter valued at approximately $56,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Forgent Power Solutions during the 2nd quarter valued at $23,123,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their price target on Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Morgan Stanley upped their price target on shares of Forgent Power Solutions from $38.00 to $51.00 and gave the company an “equal weight” rating in a research report on Sunday, May 17th. TD Cowen upped their target price on Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a report on Monday, June 22nd. The Goldman Sachs Group boosted their price objective on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Barclays upped their price objective on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.75.

Forgent Power Solutions Price Performance

NYSE:FPS opened at $30.54 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.99. Forgent Power Solutions, Inc. has a one year low of $25.95 and a one year high of $66.00. The firm’s fifty day moving average is $40.50. The firm has a market cap of $9.30 billion and a PE ratio of 203.60.

Forgent Power Solutions Company Profile

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.