Public Employees Retirement System of Ohio Takes Position in Forgent Power Solutions, Inc. $FPS

Key Points

• Public Employees Retirement System of Ohio bought 36,421 shares of Forgent Power Solutions worth approximately $2.0 million, while Bank of New York Mellon increased its stake by 813% to 326,317 shares.
• Forgent shares opened at $31.36, with a market capitalization of $9.55 billion and a notably high price-to-earnings ratio of 209.07.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $56.75, despite one analyst downgrade to sell.

Public Employees Retirement System of Ohio bought a new stake in Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 36,421 shares of the company's stock, valued at approximately $2,034,000.

Separately, Bank of New York Mellon Corp boosted its stake in Forgent Power Solutions by 813.0% in the second quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company's stock valued at $18,228,000 after acquiring an additional 290,577 shares in the last quarter.

Forgent Power Solutions Stock Up 0.0%

Forgent Power Solutions stock opened at $31.36 on Monday. Forgent Power Solutions, Inc. has a twelve month low of $25.95 and a twelve month high of $66.00. The stock has a 50 day moving average of $38.25 and a two-hundred day moving average of $40.34. 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 stock has a market capitalization of $9.55 billion and a price-to-earnings ratio of 209.07.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FPS shares. Weiss Ratings cut Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Zacks Research upgraded Forgent Power Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Barclays lifted their price target on Forgent Power Solutions from $44.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Oppenheimer increased their price objective on Forgent Power Solutions from $43.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Finally, KeyCorp lifted their target price on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.75.

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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