Kerrisdale Advisers LLC Invests $6.51 Million in Forgent Power Solutions, Inc. $FPS

Key Points

• Kerrisdale Advisers initiated a $6.51 million position in Forgent Power Solutions, purchasing 116,572 shares during the second quarter. The stock now represents 1.6% of the fund’s portfolio.
• Several institutional investors also established or expanded FPS positions, including Moore Capital Management’s $10.4 million stake and Bank of New York Mellon’s 813% position increase.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $56.75 price target, although FPS recently opened at $30.53 versus a 12-month high of $66.00.

Kerrisdale Advisers LLC purchased a new stake in Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 116,572 shares of the company's stock, valued at approximately $6,512,000. Forgent Power Solutions makes up 1.6% of Kerrisdale Advisers LLC's holdings, making the stock its 14th biggest holding.

Other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new position in Forgent Power Solutions in the second quarter valued at about $30,000. Hollencrest Capital Management acquired a new stake in Forgent Power Solutions in the second quarter valued at $56,000. Public Employees Retirement System of Ohio purchased a new position in shares of Forgent Power Solutions in the second quarter valued at $2,034,000. Moore Capital Management LP acquired a new position in shares of Forgent Power Solutions during the 2nd quarter worth $10,401,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Forgent Power Solutions by 813.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company's stock worth $18,228,000 after buying an additional 290,577 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FPS. Jefferies Financial Group lifted their target price on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Wolfe Research reissued an "outperform" rating and set a $60.00 price objective on shares of Forgent Power Solutions in a research note on Thursday, July 9th. TD Cowen lifted their price objective on Forgent Power Solutions from $63.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. TD Securities reaffirmed a "buy" rating and issued a $63.00 target price on shares of Forgent Power Solutions in a research note on Friday, May 15th. Finally, Oppenheimer increased their target price on Forgent Power Solutions from $43.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.75.

Forgent Power Solutions Price Performance

Forgent Power Solutions stock opened at $30.53 on Monday. The firm has a market cap of $9.29 billion and a PE ratio of 203.53. Forgent Power Solutions, Inc. has a 12-month low of $25.95 and a 12-month high of $66.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.64 and a quick ratio of 1.16. The business's 50-day moving average price is $41.12.

About Forgent Power Solutions

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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