Forgent Power Solutions, Inc. $FPS Stock Position Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) by 177.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,900,452 shares of the company's stock after acquiring an additional 1,216,571 shares during the period. Assenagon Asset Management S.A. owned about 0.62% of Forgent Power Solutions worth $71,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Value Aligned Research Advisors LLC acquired a new position in Forgent Power Solutions during the second quarter valued at $176,441,000. State Street Corp purchased a new stake in Forgent Power Solutions in the second quarter valued at $118,073,000. Spyglass Capital Management LLC acquired a new stake in Forgent Power Solutions during the 2nd quarter worth about $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Forgent Power Solutions during the 2nd quarter worth about $23,123,000. Finally, Bank of New York Mellon Corp grew its position in Forgent Power Solutions by 813.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company's stock worth $18,228,000 after purchasing an additional 290,577 shares during the period.

Forgent Power Solutions Stock Down 2.2%

Forgent Power Solutions stock opened at $31.66 on Friday. Forgent Power Solutions, Inc. has a 12-month low of $25.95 and a 12-month high of $66.00. The company has a 50-day moving average price of $35.14 and a 200 day moving average price of $40.75. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.54.

Forgent Power Solutions (NYSE:FPS - Get Free Report) last issued its earnings results on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. The company had revenue of $461.67 million for the quarter. The firm'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. As a group, analysts expect that Forgent Power Solutions, Inc. will post 1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FPS. Robert W. Baird initiated coverage on Forgent Power Solutions in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $55.00 target price on the stock. Oppenheimer reiterated an "outperform" rating and set a $60.00 price target on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Wells Fargo & Company started coverage on Forgent Power Solutions in a research report on Thursday, September 24th. They set an "equal weight" rating and a $44.00 price target for the company. Wolfe Research reissued an "outperform" rating and issued a $60.00 price target on shares of Forgent Power Solutions in a report on Thursday, July 9th. Finally, TD Cowen upped their price objective on Forgent Power Solutions from $73.00 to $76.00 and gave the stock a "buy" rating in a research report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.64.

Forgent Power Solutions Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.