705,361 Shares in Forgent Power Solutions, Inc. $FPS Acquired by Spyglass Capital Management LLC

Key Points

• Spyglass Capital Management acquired 705,361 Forgent Power Solutions shares in the second quarter, worth approximately $39.4 million and representing 0.23% of the company.
• Several other institutional investors, including Kerrisdale Advisers, Moore Capital Management and the Ohio public employees’ retirement system, also opened new positions in FPS during the quarter.
• FPS traded at $30.54, well below its 52-week high of $66.00, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $56.75.

Spyglass Capital Management LLC purchased a new position in shares of Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 705,361 shares of the company's stock, valued at approximately $39,401,000. Forgent Power Solutions comprises 2.1% of Spyglass Capital Management LLC's holdings, making the stock its 25th largest position. Spyglass Capital Management LLC owned 0.23% of Forgent Power Solutions as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Forgent Power Solutions during the 2nd quarter worth $30,000. Hollencrest Capital Management purchased a new stake in shares of Forgent Power Solutions in the second quarter valued at about $56,000. Public Employees Retirement System of Ohio purchased a new position in Forgent Power Solutions during the second quarter worth about $2,034,000. Kerrisdale Advisers LLC purchased a new position in Forgent Power Solutions in the second quarter worth $6,512,000. Finally, Moore Capital Management LP acquired a new stake in shares of Forgent Power Solutions during the 2nd quarter valued at approximately $10,401,000.

Forgent Power Solutions Trading Up 0.5%

FPS opened at $30.54 on Tuesday. The company's fifty day moving average price is $40.50. 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 cap of $9.30 billion and a price-to-earnings ratio of 203.60. Forgent Power Solutions, Inc. has a twelve month low of $25.95 and a twelve month high of $66.00.

Wall Street Analysts Forecast Growth

FPS has been the subject of several research reports. Weiss Ratings downgraded Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Oppenheimer raised their price target on Forgent Power Solutions from $43.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Robert W. Baird began coverage on Forgent Power Solutions in a report on Wednesday, July 15th. They issued an "outperform" rating and a $55.00 price target for the company. Wolfe Research reaffirmed an "outperform" rating and set a $60.00 price objective on shares of Forgent Power Solutions in a research note on Thursday, July 9th. Finally, TD Securities reiterated a "buy" rating and set a $63.00 price objective on shares of Forgent Power Solutions in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Forgent Power Solutions has a consensus rating of "Moderate Buy" and an average target price of $56.75.

Forgent Power Solutions Profile

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.

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