39,144 Shares in Forgent Power Solutions, Inc. $FPS Purchased by Arizona State Retirement System

Key Points

• Arizona State Retirement System purchased 39,144 shares of Forgent Power Solutions in the second quarter, valued at approximately $2.19 million. Several other institutional investors also initiated sizable positions.
• Forgent shares opened at $31.82, well below their 50-day moving average of $36.27 and 200-day average of $40.25. The stock has a market capitalization of $9.69 billion and trades at a high price-to-earnings ratio of 212.10.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $56.75, although recent ratings range from “Strong Buy” to “Sell.”

Arizona State Retirement System bought a new stake in shares of Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,144 shares of the company's stock, valued at approximately $2,187,000.

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

Forgent Power Solutions Trading Down 0.0%

Shares of Forgent Power Solutions stock opened at $31.82 on Monday. The stock has a 50 day moving average of $36.27 and a 200 day moving average of $40.25. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.64. The firm has a market capitalization of $9.69 billion and a price-to-earnings 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 equities analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Weiss Ratings cut shares of Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Robert W. Baird assumed 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 lowered shares of Forgent Power Solutions from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 8th. Finally, Morgan Stanley boosted their target price 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. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, 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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