2,113,904 Shares of Forgent Power Solutions, Inc. $FPS Acquired by State Street Corp

Key Points

• State Street Corp acquired 2.11 million shares of Forgent Power Solutions during the second quarter, valued at approximately $118.1 million and representing about 0.69% of the company. Several other institutional investors also established or expanded positions.
• Forgent reported quarterly EPS of $0.25, topping the $0.24 consensus estimate, while revenue reached $461.67 million—up 94.3% year over year. The company issued fiscal 2027 EPS guidance of $1.26 to $1.40.
• Shares opened at $39.00, with analysts maintaining a generally positive outlook: the stock carries a “Moderate Buy” consensus rating and an average price target of $56.00.

State Street Corp bought a new position in Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,113,904 shares of the company's stock, valued at approximately $118,073,000. State Street Corp owned about 0.69% of Forgent Power Solutions at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Value Aligned Research Advisors LLC purchased a new position in shares of Forgent Power Solutions during the second quarter valued at approximately $176,441,000. Spyglass Capital Management LLC bought a new stake in Forgent Power Solutions in the second quarter valued at $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Forgent Power Solutions during the 2nd quarter valued at $23,123,000. Bank of New York Mellon Corp raised its holdings in Forgent Power Solutions by 813.0% in 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 in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Forgent Power Solutions in the 2nd quarter worth about $13,440,000.

Forgent Power Solutions Stock Down 2.2%

Shares of NYSE:FPS opened at $39.00 on Friday. The stock has a fifty day simple moving average of $34.91 and a two-hundred day simple moving average of $40.39. The stock has a market capitalization of $11.87 billion and a price-to-earnings ratio of 100.01. Forgent Power Solutions, Inc. has a 12-month low of $25.95 and a 12-month high of $66.00. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Forgent Power Solutions (NYSE:FPS - Get Free Report) last issued its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm 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%.The business's revenue was up 94.3% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. On average, research analysts anticipate that Forgent Power Solutions, Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Forgent Power Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, September 17th. Robert W. Baird assumed coverage on Forgent Power Solutions in a research report on Wednesday, July 15th. They set an "outperform" rating and a $55.00 price objective on the stock. Oppenheimer reiterated an "outperform" rating and set a $60.00 target price on shares of Forgent Power Solutions in a report on Wednesday, September 16th. 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. Finally, KeyCorp restated an "overweight" rating on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $56.00.

Forgent Power Solutions Company 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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