Conestoga Capital Advisors LLC Buys 122,180 Shares of Forgent Power Solutions, Inc. $FPS

Key Points

• Conestoga Capital Advisors increased its Forgent Power Solutions stake by 82.1% in the third quarter, adding 122,180 shares to bring its holding to 271,075 shares, valued at about $10.1 million.
• Analyst views are mostly positive: MarketBeat reports a “Moderate Buy” consensus and an average $54.21 price target, though recent ratings range from a sell to buy/outperform calls.
• Forgent reported quarterly EPS of $0.25, topping estimates by $0.01, while revenue rose 94.3% year over year to $461.67 million. Shares opened at $22.45, near their 12-month low of $21.80.

Conestoga Capital Advisors LLC increased its position in Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) by 82.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,075 shares of the company's stock after purchasing an additional 122,180 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.09% of Forgent Power Solutions worth $10,149,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Value Aligned Research Advisors LLC acquired a new position in Forgent Power Solutions during the second quarter worth $176,441,000. State Street Corp bought a new position in shares of Forgent Power Solutions in the second quarter valued at $118,073,000. Assenagon Asset Management S.A. grew its holdings in shares of Forgent Power Solutions by 177.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company's stock valued at $71,153,000 after buying an additional 1,216,571 shares during the last quarter. Spyglass Capital Management LLC acquired a new position in shares of Forgent Power Solutions during the second quarter valued at about $39,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Forgent Power Solutions during the second quarter worth about $23,123,000.

Analysts Set New Price Targets

Several analysts have recently commented on FPS shares. Jefferies Financial Group lowered their price objective on Forgent Power Solutions from $47.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, October 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $60.00 target price on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Weiss Ratings downgraded Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, October 2nd. TD Cowen increased their price target on Forgent Power Solutions from $73.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, September 16th. Finally, Sanford C. Bernstein began coverage on Forgent Power Solutions in a research note on Friday, October 2nd. They set an "outperform" rating and a $48.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.21.

Forgent Power Solutions Stock Performance

Shares of FPS stock opened at $22.45 on Thursday. The stock has a market capitalization of $6.83 billion and a P/E ratio of 57.56. The firm's 50 day moving average is $32.93 and its 200 day moving average is $38.57. Forgent Power Solutions, Inc. has a 12 month low of $21.80 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 announced 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. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. The company had revenue of $461.67 million during the quarter. The company'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, sell-side analysts anticipate that Forgent Power Solutions, Inc. will post 1.28 earnings per share for the current year.

Forgent Power Solutions Company Profile

Forgent Power Solutions, Inc is a North American provider of equipment and services used in electrical power distribution. The company supports utilities, commercial and industrial customers, renewable-energy projects, data centers, and other infrastructure operators that require reliable systems for managing and distributing electricity.

Its offerings include power transformers, switchgear, substations, and related electrical distribution equipment. Forgent also provides engineering, field services, maintenance, repair, and other support intended to help customers install, operate, and extend the useful life of critical power infrastructure.

The company serves customers across the United States and Canada through its manufacturing, distribution, and service operations.

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