Forgent Power Solutions, Inc. $FPS Position Lowered by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Forgent Power Solutions, Inc. (NYSE:FPS) by 81.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,374 shares of the company’s stock after selling 48,742 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Forgent Power Solutions were worth $426,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FPS. Northwestern Mutual Wealth Management Co. purchased a new stake in Forgent Power Solutions in the second quarter worth $30,000. Triumph Capital Management bought a new position in Forgent Power Solutions in the second quarter worth $39,000. City State Bank bought a new position in Forgent Power Solutions in the third quarter worth $32,000. IFP Advisors Inc purchased a new position in Forgent Power Solutions during the second quarter valued at $48,000. Finally, GAMMA Investing LLC lifted its position in Forgent Power Solutions by 918.5% during the third quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after buying an additional 845 shares during the period.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Jefferies Financial Group dropped their target price on shares of Forgent Power Solutions from $47.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Sanford C. Bernstein began coverage on shares of Forgent Power Solutions in a research note on Friday, October 2nd. They issued an “outperform” rating and a $48.00 price target for the company. Zacks Research upgraded shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. TD Cowen lifted their price target on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, September 16th. Finally, Robert W. Baird began 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 on the stock. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

Forgent Power Solutions Stock Performance

Shares of FPS opened at $19.39 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.86. The stock has a market cap of $5.90 billion and a P/E ratio of 49.71. The business’s 50 day moving average price is $32.41 and its 200-day moving average price is $38.35. Forgent Power Solutions, Inc. has a 52 week low of $17.67 and a 52 week high of $66.00.

Forgent Power Solutions (NYSE:FPS) last posted its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. The company had revenue of $461.67 million during the quarter. The firm’s revenue was up 94.3% on a year-over-year basis. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. Equities research analysts anticipate that Forgent Power Solutions, Inc. will post 1.28 earnings per share for the current fiscal year.

Forgent Power Solutions Profile