155,658 Shares in Forgent Power Solutions, Inc. $FPS Acquired by Amundi

Key Points

• Amundi acquired 155,658 shares of Forgent Power Solutions in the second quarter, valued at approximately $8.7 million and representing about 0.05% of the company. Several other institutional investors also initiated positions during the quarter.
• Forgent Power Solutions shares were reported up 9.0%, opening at $31.82, while the company had a $9.69 billion market capitalization and a notably high price-to-earnings ratio of 212.10.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $56.75, despite one hold downgrade and one sell rating.

Amundi acquired a new stake in Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 155,658 shares of the company's stock, valued at approximately $8,695,000. Amundi owned approximately 0.05% of Forgent Power Solutions as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Spyglass Capital Management LLC purchased a new position in shares of Forgent Power Solutions in the second quarter valued at $39,401,000. Moore Capital Management LP purchased a new stake in Forgent Power Solutions during the 2nd quarter worth $10,401,000. Value Aligned Research Advisors LLC purchased a new stake in Forgent Power Solutions during the 2nd quarter worth $176,441,000. Tribune Investment Group LP acquired a new position in Forgent Power Solutions in the 2nd quarter worth $3,614,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in Forgent Power Solutions in the 2nd quarter valued at about $5,369,000.

Forgent Power Solutions Trading Up 9.0%

Shares of NYSE:FPS opened at $31.82 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.99. The company's 50-day moving average price is $36.27 and its 200 day moving average price is $40.21. The company has a market cap of $9.69 billion and a PE ratio of 212.10. Forgent Power Solutions, Inc. has a fifty-two week low of $25.95 and a fifty-two week high of $66.00.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FPS. Morgan Stanley lifted their price objective on Forgent Power Solutions from $38.00 to $51.00 and gave the stock an "equal weight" rating in a report on Sunday, May 17th. Robert W. Baird assumed coverage on Forgent Power Solutions in a research note on Wednesday, July 15th. They set an "outperform" rating and a $55.00 target price for the company. Zacks Research downgraded shares of Forgent Power Solutions from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 8th. Jefferies Financial Group upped their price target on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the company a "buy" rating in a report on Friday, May 29th. Finally, Wolfe Research reiterated an "outperform" rating and set a $60.00 price objective on shares of Forgent Power Solutions in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.

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