Burney Co. Has $2.53 Million Stake in Power Solutions International, Inc. $PSIX

Burney Co. lifted its position in shares of Power Solutions International, Inc. (NASDAQ:PSIX) by 15.5% during the second quarter, Holdings Channel.com reports. The firm owned 39,138 shares of the company’s stock after purchasing an additional 5,248 shares during the period. Burney Co.’s holdings in Power Solutions International were worth $2,531,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new position in shares of Power Solutions International during the first quarter worth approximately $782,000. Thoroughbred Financial Services LLC raised its position in shares of Power Solutions International by 108.8% during the first quarter. Thoroughbred Financial Services LLC now owns 21,783 shares of the company’s stock worth $550,000 after purchasing an additional 11,350 shares during the period. Mutual Advisors LLC acquired a new position in shares of Power Solutions International during the second quarter worth approximately $234,000. Cetera Investment Advisers acquired a new position in shares of Power Solutions International during the first quarter worth approximately $516,000. Finally, Perigon Wealth Management LLC acquired a new position in shares of Power Solutions International during the second quarter worth approximately $322,000. 22.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Power Solutions International

In other news, major shareholder America Corp. Weichai sold 79,839 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $93.46, for a total transaction of $7,461,752.94. Following the completion of the sale, the insider directly owned 10,599,759 shares of the company’s stock, valued at $990,653,476.14. This trade represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank P. Simpkins sold 10,000 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $91.64, for a total value of $916,400.00. Following the sale, the director directly owned 25,000 shares of the company’s stock, valued at approximately $2,291,000. This represents a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 211,014 shares of company stock valued at $18,768,831 in the last three months. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Power Solutions International in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $37.00.

Power Solutions International Trading Up 4.0%

Shares of Power Solutions International stock opened at $89.07 on Tuesday. The stock has a fifty day simple moving average of $91.34 and a 200 day simple moving average of $70.73. Power Solutions International, Inc. has a 12-month low of $15.30 and a 12-month high of $121.78. The company has a market capitalization of $2.05 billion, a P/E ratio of 18.52 and a beta of 1.53. The company has a current ratio of 1.26, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01.

Power Solutions International (NASDAQ:PSIX) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.23 earnings per share (EPS) for the quarter. Power Solutions International had a return on equity of 136.57% and a net margin of 18.56%.The business had revenue of $191.91 million during the quarter.

About Power Solutions International

Power Solutions International, Inc engages in the design, manufacture, and trade of power systems and electrical power generation equipment. The firm provides integrated turnkey solutions to global original equipment manufacturers and end-user customers within the energy, industrial, and transportation end markets.