152,260 Shares of Forgent Power Solutions, Inc. $FPS Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments initiated a position in Forgent Power Solutions, buying 152,260 shares worth about $5.7 million, or roughly 0.05% of the company.
• Analysts’ overall rating is “Moderate Buy,” with an average price target of $54.21; three rate the stock Strong Buy, 11 Buy, two Hold, and one Sell.
• Forgent reported quarterly EPS of $0.25, slightly above estimates, while revenue rose 94.3% year over year to $461.67 million. Shares opened at $18.09, near the reported 12-month low of $17.98.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 152,260 shares of the company's stock, valued at approximately $5,701,000. Mirae Asset Global Investments Co. Ltd. owned about 0.05% of Forgent Power Solutions as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new stake in Forgent Power Solutions during the 2nd quarter worth approximately $7,858,000. Spyglass Capital Management LLC purchased a new position in shares of Forgent Power Solutions in the 2nd quarter valued at approximately $39,401,000. Scholtz & Company LLC acquired a new position in shares of Forgent Power Solutions in the second quarter valued at approximately $1,892,000. Moore Capital Management LP acquired a new position in shares of Forgent Power Solutions in the second quarter valued at approximately $10,401,000. Finally, Amundi acquired a new position in shares of Forgent Power Solutions in the second quarter valued at approximately $8,695,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wolfe Research restated an "outperform" rating and set a $60.00 price target on shares of Forgent Power Solutions in a research note on Thursday, July 9th. Morgan Stanley set a $45.00 price objective on shares of Forgent Power Solutions in a research report on Friday, October 16th. JPMorgan Chase & Co. dropped their price objective on shares of Forgent Power Solutions from $56.00 to $49.00 and set an "overweight" rating on the stock in a research note on Friday, October 9th. Zacks Research upgraded shares of Forgent Power Solutions from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 7th. Finally, Clear Str upgraded shares of Forgent Power Solutions to a "strong-buy" rating in a research note on Monday, October 26th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.21.

Forgent Power Solutions Stock Performance

NYSE FPS opened at $18.09 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The business's 50 day moving average is $32.65 and its two-hundred day moving average is $38.46. Forgent Power Solutions, Inc. has a 12-month low of $17.98 and a 12-month high of $66.00. The stock has a market capitalization of $5.51 billion and a price-to-earnings ratio of 46.38.

Forgent Power Solutions (NYSE:FPS - Get Free Report) last issued its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $461.67 million during the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. Forgent Power Solutions'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. Research analysts expect that Forgent Power Solutions, Inc. will post 1.28 EPS for the current year.

Forgent Power Solutions Profile

Forgent Power Solutions, Inc is a North American provider of equipment and services used in electrical power distribution. The company supports utilities, commercial and industrial customers, renewable-energy projects, data centers, and other infrastructure operators that require reliable systems for managing and distributing electricity.

Its offerings include power transformers, switchgear, substations, and related electrical distribution equipment. Forgent also provides engineering, field services, maintenance, repair, and other support intended to help customers install, operate, and extend the useful life of critical power infrastructure.

The company serves customers across the United States and Canada through its manufacturing, distribution, and service operations.

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