Public Employees Retirement System of Ohio Invests $2.03 Million in Forgent Power Solutions, Inc. $FPS

Public Employees Retirement System of Ohio purchased a new position in shares of Forgent Power Solutions, Inc. (NYSE:FPS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,421 shares of the company’s stock, valued at approximately $2,034,000.

Separately, Bank of New York Mellon Corp increased its position in 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 worth $18,228,000 after purchasing an additional 290,577 shares during the period.

Forgent Power Solutions Stock Performance

Shares of FPS stock opened at $31.36 on Monday. The stock has a fifty day moving average price of $38.25 and a 200 day moving average price of $40.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.64. The stock has a market cap of $9.55 billion and a PE ratio of 209.07. Forgent Power Solutions, Inc. has a 1 year low of $25.95 and a 1 year high of $66.00.

Wall Street Analyst Weigh In

FPS has been the subject of a number of analyst reports. TD Cowen increased their target price on Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. The Goldman Sachs Group upped their price objective on Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Oppenheimer increased their price objective on Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Jefferies Financial Group boosted 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. Finally, Zacks Research raised shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned 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 company currently has a consensus rating of “Moderate Buy” and an average target price 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.