MCF Advisors LLC Invests $1 Million in Forgent Power Solutions, Inc. $FPS

MCF Advisors LLC bought a new position in Forgent Power Solutions, Inc. (NYSE:FPS) during the second quarter, according to its most recent filing with the SEC. The firm bought 17,905 shares of the company’s stock, valued at approximately $1,000,000.

Several other hedge funds have also bought and sold shares of the business. California State Teachers Retirement System bought a new stake in Forgent Power Solutions during the 2nd quarter valued at $510,943,000. Value Aligned Research Advisors LLC bought a new position in shares of Forgent Power Solutions in the second quarter valued at $176,441,000. Spyglass Capital Management LLC acquired a new position in shares of Forgent Power Solutions during the second quarter valued at about $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Forgent Power Solutions during the second quarter worth about $23,123,000. Finally, Bank of New York Mellon Corp increased its position in shares of Forgent Power Solutions by 813.0% during the second quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company’s stock worth $18,228,000 after acquiring an additional 290,577 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on FPS. TD Securities reaffirmed a “buy” rating and issued a $63.00 price target on shares of Forgent Power Solutions in a research report on Friday, May 15th. Wolfe Research reissued an “outperform” rating and issued a $60.00 price objective on shares of Forgent Power Solutions in a research note on Thursday, July 9th. The Goldman Sachs Group raised their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a report on Friday, May 15th. Zacks Research cut Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Weiss Ratings downgraded Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.75.

Forgent Power Solutions Stock Down 6.0%

Forgent Power Solutions stock opened at $29.14 on Friday. Forgent Power Solutions, Inc. has a fifty-two week low of $25.95 and a fifty-two week high of $66.00. The stock has a market cap of $8.87 billion and a PE ratio of 194.30. The firm’s 50-day simple moving average is $36.58 and its 200 day simple moving average is $40.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.64.

About Forgent Power Solutions

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.