140,667 Shares in Forgent Power Solutions, Inc. $FPS Bought by Tidal Investments LLC

Tidal Investments LLC bought a new position in Forgent Power Solutions, Inc. (NYSE:FPS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 140,667 shares of the company’s stock, valued at approximately $7,858,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Forgent Power Solutions in the 2nd quarter valued at about $30,000. Triumph Capital Management acquired a new position in shares of Forgent Power Solutions during the second quarter worth about $39,000. IFP Advisors Inc bought a new position in shares of Forgent Power Solutions during the second quarter worth about $48,000. Hollencrest Capital Management acquired a new stake in Forgent Power Solutions in the 2nd quarter valued at approximately $56,000. Finally, Allworth Financial LP bought a new stake in Forgent Power Solutions in the 2nd quarter valued at approximately $86,000.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FPS. Zacks Research downgraded shares of Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. TD Cowen increased their price objective on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Morgan Stanley raised their price objective on Forgent Power Solutions from $38.00 to $51.00 and gave the company an “equal weight” rating in a report on Sunday, May 17th. Robert W. Baird assumed coverage on Forgent Power Solutions in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 target price on the stock. Finally, Jefferies Financial Group upped their target price on Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.75.

Forgent Power Solutions Price Performance

NYSE:FPS opened at $31.82 on Friday. Forgent Power Solutions, Inc. has a 12-month low of $25.95 and a 12-month high of $66.00. The firm has a market capitalization of $9.69 billion and a price-to-earnings ratio of 212.10. The stock’s 50 day moving average price is $36.27 and its two-hundred day moving average price is $40.21. 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 Profile

Forgent Power Solutions, Inc develops and manufactures products used in electric power transmission and distribution infrastructure. Its offerings support the generation, transmission, distribution and management of electrical power for utility and industrial applications.

The company’s product portfolio includes equipment and components used in overhead and underground power networks, including electrical connectors, fittings, line hardware and other engineered solutions designed to support the reliability and efficiency of power-delivery systems.

Forgent Power Solutions serves electric utilities, distributors and industrial customers, primarily through markets connected to North American power infrastructure.