Bank of New York Mellon Corp Acquires 290,577 Shares of Forgent Power Solutions, Inc. $FPS

Key Points

• Bank of New York Mellon increased its Forgent Power Solutions stake by 813% in the second quarter, purchasing 290,577 additional shares for a total holding of 326,317 shares valued at approximately $18.2 million.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $56.75, although Weiss Ratings downgraded the stock to “sell.”
• Forgent Power Solutions opened at $30.54, compared with a 52-week range of $25.95 to $66.00; the company benefits from rising demand for electrical infrastructure supporting data centers, power generation and grid upgrades.

Bank of New York Mellon Corp raised its holdings in shares of Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) by 813.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 326,317 shares of the company's stock after purchasing an additional 290,577 shares during the period. Bank of New York Mellon Corp owned 0.11% of Forgent Power Solutions worth $18,228,000 at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. 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. Barclays upped their price target on Forgent Power Solutions from $44.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Oppenheimer raised their price objective 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. Jefferies Financial Group upped their target price on Forgent Power Solutions from $44.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, May 29th. Finally, Weiss Ratings lowered Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.75.

Forgent Power Solutions Stock Up 0.5%

Shares of FPS opened at $30.54 on Tuesday. 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 stock has a market capitalization of $9.30 billion and a P/E ratio of 203.60. The business has a 50-day moving average of $40.50. Forgent Power Solutions, Inc. has a 52 week low of $25.95 and a 52 week high of $66.00.

Forgent Power Solutions Company 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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