Envestnet Asset Management Inc. Purchases 132,620 Shares of Forgent Power Solutions, Inc. $FPS

Key Points

• Envestnet Asset Management acquired 132,620 shares of Forgent Power Solutions during the second quarter, worth approximately $7.4 million. Several other investment firms also initiated positions in the company.
• Forgent Power Solutions reported quarterly EPS of $0.25, exceeding the $0.24 consensus estimate, while revenue surged 94.3% year over year to $461.67 million. The stock was trading at $40.27, up 7.9%.
• Wall Street analysts remain generally bullish, with a consensus rating of “Moderate Buy” and an average price target of $55.43, compared with the reported trading price.

Envestnet Asset Management Inc. acquired a new position in Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 132,620 shares of the company's stock, valued at approximately $7,408,000.

Other large investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Forgent Power Solutions during the 2nd quarter valued at $30,000. Triumph Capital Management purchased a new stake in Forgent Power Solutions in the second quarter worth $39,000. IFP Advisors Inc purchased a new position in Forgent Power Solutions during the 2nd quarter valued at $48,000. Hollencrest Capital Management bought a new position in Forgent Power Solutions in the 2nd quarter worth $56,000. Finally, Allworth Financial LP purchased a new stake in shares of Forgent Power Solutions in the 2nd quarter worth about $86,000.

Forgent Power Solutions Trading Up 7.9%

FPS opened at $40.27 on Friday. Forgent Power Solutions, Inc. has a 52 week low of $25.95 and a 52 week high of $66.00. The company has a market capitalization of $12.26 billion and a P/E ratio of 103.25. The stock's fifty day moving average is $34.82 and its two-hundred day moving average is $40.52. The company has a quick ratio of 1.07, a current ratio of 1.54 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 EPS 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 firm had revenue of $461.67 million for the quarter. The business's quarterly 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. Analysts forecast that Forgent Power Solutions, Inc. will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FPS. Wolfe Research reissued an "outperform" rating and issued a $60.00 target price on shares of Forgent Power Solutions in a research report on Thursday, July 9th. Sanford C. Bernstein began coverage on Forgent Power Solutions in a research note on Friday. They issued an "outperform" rating and a $48.00 price target on the stock. Robert W. Baird started coverage on Forgent Power Solutions in a research report on Wednesday, July 15th. They issued an "outperform" rating and a $55.00 price target for the company. Oppenheimer restated an "outperform" rating and issued a $60.00 price objective on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Finally, KeyCorp reiterated an "overweight" rating on shares of Forgent Power Solutions in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.43.

Forgent Power Solutions Profile

Forgent Power Solutions, Inc is an electrical infrastructure company that provides equipment and related solutions used in power generation, transmission, distribution and industrial applications. Its offerings support the delivery, control and management of electricity across utility and commercial power systems.

The company's products and services include transformers, switchgear, substations and other electrical distribution equipment. These solutions are used by electric utilities, industrial customers, commercial facilities and other organizations that require reliable power infrastructure.

Forgent Power Solutions serves customers involved in the North American power and electrical infrastructure markets.

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