Tribune Investment Group LP Purchases Shares of 64,700 Forgent Power Solutions, Inc. $FPS

Tribune Investment Group LP acquired a new position in Forgent Power Solutions, Inc. (NYSE:FPS) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 64,700 shares of the company’s stock, valued at approximately $3,614,000. Forgent Power Solutions accounts for about 1.5% of Tribune Investment Group LP’s investment portfolio, making the stock its 23rd biggest holding.

A number of other large investors have also recently bought and sold shares of the company. Spyglass Capital Management LLC purchased a new position in Forgent Power Solutions during the 2nd quarter worth approximately $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Forgent Power Solutions in the second quarter worth $23,123,000. Bank of New York Mellon Corp raised its holdings 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 purchasing an additional 290,577 shares during the last quarter. Moore Capital Management LP acquired a new position in Forgent Power Solutions during the second quarter valued at $10,401,000. Finally, Kerrisdale Advisers LLC acquired a new position in Forgent Power Solutions during the second quarter valued at $6,512,000.

Analyst Ratings Changes

FPS has been the topic of several analyst reports. Weiss Ratings downgraded Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. TD Securities restated a “buy” rating and issued a $63.00 target price on shares of Forgent Power Solutions in a research note on Friday, May 15th. Morgan Stanley raised their target price on Forgent Power Solutions from $38.00 to $51.00 and gave the stock an “equal weight” rating in a report on Sunday, May 17th. Oppenheimer boosted their price target on Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, KeyCorp upped their price objective on Forgent Power Solutions from $41.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.75.

Forgent Power Solutions Stock Performance

NYSE FPS opened at $30.46 on Friday. The stock has a market capitalization of $9.27 billion and a price-to-earnings ratio of 203.07. The stock has a 50-day moving average of $38.72 and a 200 day moving average of $40.35. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.99. Forgent Power Solutions, Inc. has a twelve month low of $25.95 and a twelve month high of $66.00.

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.