33,869 Shares in Forgent Power Solutions, Inc. $FPS Acquired by Scholtz & Company LLC

Key Points

• Scholtz & Company LLC acquired 33,869 shares of Forgent Power Solutions in the second quarter, valued at approximately $1.9 million. Several other institutional investors also initiated sizable positions, including Value Aligned Research Advisors with a stake valued at about $176.4 million.
• Analyst sentiment is broadly positive: Forgent has a consensus “Moderate Buy” rating and an average price target of $56.75, though Weiss Ratings downgraded the stock to “sell.”
• FPS recently traded at $31.07, down 3.8%, well below its 52-week high of $66.00. The company benefits from rising demand for electrical distribution equipment driven by data-center, power-grid, utility and industrial investment.

Scholtz & Company LLC bought a new stake in shares of Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 33,869 shares of the company's stock, valued at approximately $1,892,000.

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

Wall Street Analyst Weigh In

A number of analysts have commented on FPS shares. Robert W. Baird began coverage on shares of Forgent Power Solutions in a report on Wednesday, July 15th. They issued an "outperform" rating and a $55.00 price objective for the company. Zacks Research upgraded Forgent Power Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. The Goldman Sachs Group lifted their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the company a "buy" rating in a report on Friday, May 15th. Jefferies Financial Group boosted their price target on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Finally, Weiss Ratings cut Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Two equities 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.75.

Forgent Power Solutions Trading Down 3.8%

NYSE:FPS opened at $31.07 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.99. Forgent Power Solutions, Inc. has a 52 week low of $25.95 and a 52 week high of $66.00. The business's 50 day moving average is $36.93 and its two-hundred day moving average is $40.30. The company has a market cap of $9.46 billion and a PE ratio of 207.11.

About Forgent Power Solutions

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.