FirstWave Capital Management LLC Takes $4.34 Million Position in Forgent Power Solutions, Inc. $FPS

Key Points

• FirstWave Capital Management acquired 77,617 shares of Forgent Power Solutions worth approximately $4.34 million, making FPS its 14th-largest portfolio holding at 1.9%.
• Several other institutional investors also initiated positions during the second quarter, while FPS shares opened at $31.36 and remained well below their 52-week high of $66.00.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $56.75, although Weiss Ratings downgraded the stock to “sell.”

FirstWave Capital Management LLC acquired a new stake in Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 77,617 shares of the company's stock, valued at approximately $4,336,000. Forgent Power Solutions comprises about 1.9% of FirstWave Capital Management LLC's portfolio, making the stock its 14th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Forgent Power Solutions during the 2nd quarter worth $30,000. Triumph Capital Management acquired a new stake in shares of Forgent Power Solutions during the second quarter valued at about $39,000. Hollencrest Capital Management acquired a new position in shares of Forgent Power Solutions in the 2nd quarter worth approximately $56,000. Nykredit A S purchased a new position in shares of Forgent Power Solutions during the 2nd quarter worth approximately $194,000. Finally, Secure Asset Management LLC acquired a new stake in Forgent Power Solutions in the 2nd quarter valued at approximately $237,000.

Forgent Power Solutions Stock Performance

Shares of FPS opened at $31.36 on Friday. The company has a market capitalization of $9.55 billion and a price-to-earnings ratio of 209.07. Forgent Power Solutions, Inc. has a 52-week low of $25.95 and a 52-week high of $66.00. 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 50 day moving average price of $38.25 and a 200 day moving average price of $40.29.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Zacks Research upgraded Forgent Power Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. TD Cowen increased their target price on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. TD Securities reaffirmed a "buy" rating and set a $63.00 price objective on shares of Forgent Power Solutions in a research report on Friday, May 15th. KeyCorp lifted their target price on Forgent Power Solutions from $41.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, May 15th. Finally, Weiss Ratings lowered shares of Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Two 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, Forgent Power Solutions has a consensus rating of "Moderate Buy" and a consensus 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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