WINTON GROUP Ltd Takes $2.10 Million Position in Forgent Power Solutions, Inc. $FPS

WINTON GROUP Ltd acquired a new position in shares of Forgent Power Solutions, Inc. (NYSE:FPS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,500 shares of the company’s stock, valued at approximately $2,095,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Forgent Power Solutions in the 2nd quarter valued at approximately $30,000. Triumph Capital Management purchased a new stake in shares of Forgent Power Solutions during the 2nd quarter valued at approximately $39,000. IFP Advisors Inc acquired a new position in Forgent Power Solutions in the second quarter valued at approximately $48,000. Hollencrest Capital Management purchased a new position in Forgent Power Solutions in the second quarter worth approximately $56,000. Finally, Allworth Financial LP purchased a new position in Forgent Power Solutions in the second quarter worth approximately $86,000.

Forgent Power Solutions Stock Up 9.0%

Shares of NYSE FPS opened at $31.82 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $36.27 and its two-hundred day moving average is $40.21. Forgent Power Solutions, Inc. has a 52-week low of $25.95 and a 52-week high of $66.00. The firm has a market cap of $9.69 billion and a price-to-earnings ratio of 212.10.

Wall Street Analyst Weigh In

FPS has been the topic of a number of research analyst reports. Barclays lifted their target price on Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Oppenheimer raised 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. TD Cowen boosted their price objective on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Robert W. Baird started coverage on shares of 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, TD Securities reaffirmed a “buy” rating and set a $63.00 target price on shares of Forgent Power Solutions in a research note on Friday, May 15th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.75.

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.