Kerrisdale Advisers LLC Makes New $6.51 Million Investment in Forgent Power Solutions, Inc. $FPS

Kerrisdale Advisers LLC acquired a new stake in shares of Forgent Power Solutions, Inc. (NYSE:FPS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 116,572 shares of the company’s stock, valued at approximately $6,512,000. Forgent Power Solutions comprises approximately 1.6% of Kerrisdale Advisers LLC’s portfolio, making the stock its 14th biggest holding.

Several other large investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Forgent Power Solutions in the second quarter worth approximately $30,000. Hollencrest Capital Management purchased a new position in Forgent Power Solutions during the second quarter worth approximately $56,000. Public Employees Retirement System of Ohio acquired a new position in shares of Forgent Power Solutions in the 2nd quarter valued at $2,034,000. Moore Capital Management LP purchased a new stake in shares of Forgent Power Solutions during the 2nd quarter valued at $10,401,000. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 valued at $18,228,000 after buying an additional 290,577 shares during the period.

Forgent Power Solutions Stock Up 0.4%

FPS opened at $30.53 on Monday. The firm’s 50 day moving average price is $41.12. Forgent Power Solutions, Inc. has a 52-week low of $25.95 and a 52-week 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 stock has a market capitalization of $9.29 billion and a price-to-earnings ratio of 203.53.

Analyst Ratings Changes

FPS has been the topic of a number of research analyst reports. Oppenheimer lifted 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. The Goldman Sachs Group increased their target price on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Jefferies Financial Group lifted their price target on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Zacks Research upgraded shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley increased their price objective on shares of Forgent Power Solutions from $38.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Sunday, May 17th. Two equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Forgent Power Solutions 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.