Conestoga Capital Advisors LLC grew its stake in Forgent Power Solutions, Inc. (NYSE:FPS – Free Report) by 82.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 271,075 shares of the company’s stock after buying an additional 122,180 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Forgent Power Solutions were worth $10,149,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in FPS. Value Aligned Research Advisors LLC purchased a new stake in shares of Forgent Power Solutions during the 2nd quarter valued at $176,441,000. State Street Corp purchased a new position in Forgent Power Solutions in the second quarter worth $118,073,000. Assenagon Asset Management S.A. increased its stake in Forgent Power Solutions by 177.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company’s stock valued at $71,153,000 after acquiring an additional 1,216,571 shares during the last quarter. Spyglass Capital Management LLC bought a new position in Forgent Power Solutions in the second quarter valued at $39,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Forgent Power Solutions during the second quarter valued at about $23,123,000.
Forgent Power Solutions Stock Performance
NYSE:FPS opened at $22.45 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.54. Forgent Power Solutions, Inc. has a fifty-two week low of $21.80 and a fifty-two week high of $66.00. The firm has a market cap of $6.83 billion and a PE ratio of 57.56. The business has a 50 day moving average price of $32.93 and a 200-day moving average price of $38.57.
Forgent Power Solutions (NYSE:FPS – Get Free Report) last issued its earnings results on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. The company had revenue of $461.67 million for the quarter. The firm’s revenue for the quarter was up 94.3% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. Equities research analysts predict that Forgent Power Solutions, Inc. will post 1.28 earnings per share for the current year.
Wall Street Analysts Forecast Growth
FPS has been the subject of several research analyst reports. Clear Str raised Forgent Power Solutions to a “strong-buy” rating in a research note on Monday, October 26th. Jefferies Financial Group reduced their price objective on Forgent Power Solutions from $47.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Wells Fargo & Company started coverage on Forgent Power Solutions in a report on Thursday, September 24th. They set an “equal weight” rating and a $44.00 price objective on the stock. TD Cowen boosted their target price on Forgent Power Solutions from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, September 16th. Finally, Morgan Stanley set a $45.00 target price on Forgent Power Solutions in a research note on Friday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Forgent Power Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.
Read Our Latest Stock Report on FPS
About Forgent Power Solutions
Forgent Power Solutions, Inc is a North American provider of equipment and services used in electrical power distribution. The company supports utilities, commercial and industrial customers, renewable-energy projects, data centers, and other infrastructure operators that require reliable systems for managing and distributing electricity.
Its offerings include power transformers, switchgear, substations, and related electrical distribution equipment. Forgent also provides engineering, field services, maintenance, repair, and other support intended to help customers install, operate, and extend the useful life of critical power infrastructure.
The company serves customers across the United States and Canada through its manufacturing, distribution, and service operations.
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