Moore Capital Management LP Purchases Shares of 186,199 Forgent Power Solutions, Inc. $FPS

Key Points

• Moore Capital Management initiated a stake of 186,199 Forgent Power Solutions shares worth approximately $10.4 million, representing about 0.06% of the company.
• Other institutional investors also increased exposure during the second quarter, including UBS Asset Management, which purchased a position valued at roughly $23.1 million, and Bank of New York Mellon, which raised its stake by 813%.
• Analysts remain broadly positive, with FPS holding a “Moderate Buy” consensus rating and a $56.75 average price target, despite shares opening at $30.53 and trading at a high P/E ratio of 203.53.

Moore Capital Management LP bought a new stake in Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 186,199 shares of the company's stock, valued at approximately $10,401,000. Moore Capital Management LP owned approximately 0.06% of Forgent Power Solutions as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FPS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Forgent Power Solutions in the 2nd quarter worth about $23,123,000. Bank of New York Mellon Corp lifted its stake 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 valued at $18,228,000 after purchasing an additional 290,577 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Forgent Power Solutions during the second quarter worth $2,034,000. Hollencrest Capital Management bought a new position in Forgent Power Solutions during the second quarter valued at about $56,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Forgent Power Solutions during the 2nd quarter worth about $30,000.

Forgent Power Solutions Stock Performance

Shares of FPS opened at $30.53 on Monday. 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 cap of $9.29 billion and a P/E ratio of 203.53. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.99. The company has a fifty day simple moving average of $41.12.

Wall Street Analysts Forecast Growth

FPS has been the topic of a number of recent analyst reports. Zacks Research raised shares of Forgent Power Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. KeyCorp raised their price target on Forgent Power Solutions from $41.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Morgan Stanley increased their target price on Forgent Power Solutions from $38.00 to $51.00 and gave the company an "equal weight" rating in a research note on Sunday, May 17th. Jefferies Financial Group lifted their price target on Forgent Power Solutions from $44.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Finally, Wolfe Research restated an "outperform" rating and set a $60.00 price objective on shares of Forgent Power Solutions in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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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