Tribune Investment Group LP Invests $3.61 Million in Forgent Power Solutions, Inc. $FPS

Key Points

• Tribune Investment Group acquired 64,700 Forgent Power Solutions shares worth approximately $3.61 million, making FPS 1.5% of its portfolio. Several other institutional investors also initiated positions during the second quarter.
• Forgent shares opened at $30.46, well below their 52-week high of $66.00, while the company reported a $9.27 billion market capitalization and a high P/E ratio of 203.07.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $56.75; targets from major firms range from $51 to $63.

Tribune Investment Group LP acquired a new stake in shares of Forgent Power Solutions, Inc. (NYSE:FPS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 64,700 shares of the company's stock, valued at approximately $3,614,000. Forgent Power Solutions makes up 1.5% of Tribune Investment Group LP's holdings, making the stock its 23rd biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new position in Forgent Power Solutions during the second quarter valued at approximately $411,000. Round Rock Advisors LLC bought a new stake in Forgent Power Solutions during the 2nd quarter valued at $681,000. Nykredit A S purchased a new position in shares of Forgent Power Solutions in the 2nd quarter valued at $194,000. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Forgent Power Solutions in the 2nd quarter worth $5,369,000. Finally, Secure Asset Management LLC bought a new stake in Forgent Power Solutions during the second quarter valued at about $237,000.

Forgent Power Solutions Stock Performance

Shares of Forgent Power Solutions stock opened at $30.46 on Friday. The company has a 50 day moving average price of $38.72 and a 200 day moving average price of $40.35. The firm has a market capitalization of $9.27 billion and a P/E ratio of 203.07. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.99. Forgent Power Solutions, Inc. has a 52 week low of $25.95 and a 52 week high of $66.00.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley increased their price target on shares of Forgent Power Solutions from $38.00 to $51.00 and gave the company an "equal weight" rating in a research report on Sunday, May 17th. Robert W. Baird started coverage on shares of Forgent Power Solutions in a research note on Wednesday, July 15th. They set an "outperform" rating and a $55.00 price objective for the company. TD Securities restated a "buy" rating and issued a $63.00 target price on shares of Forgent Power Solutions in a research note on Friday, May 15th. The Goldman Sachs Group lifted their price target on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Finally, Barclays upped 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. 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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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