Forgent Power Solutions, Inc. $FPS Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Increases Holdings

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Forgent Power Solutions, Inc. (NYSE:FPS) by 223.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,300 shares of the company’s stock after purchasing an additional 37,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Forgent Power Solutions were worth $2,033,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FPS. Tidal Investments LLC purchased a new stake in shares of Forgent Power Solutions during the 2nd quarter valued at about $7,858,000. Spyglass Capital Management LLC acquired a new position in Forgent Power Solutions during the 2nd quarter worth approximately $39,401,000. Scholtz & Company LLC acquired a new position in Forgent Power Solutions during the 2nd quarter worth approximately $1,892,000. Moore Capital Management LP purchased a new position in Forgent Power Solutions in the 2nd quarter worth approximately $10,401,000. Finally, Amundi purchased a new position in Forgent Power Solutions in the 2nd quarter worth approximately $8,695,000.

Forgent Power Solutions Stock Performance

Forgent Power Solutions stock opened at $27.06 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 1.07. Forgent Power Solutions, Inc. has a 12 month low of $23.16 and a 12 month high of $66.00. The company has a fifty day moving average price of $33.13 and a two-hundred day moving average price of $38.66. The company has a market cap of $8.24 billion and a PE ratio of 69.39.

Forgent Power Solutions (NYSE:FPS) last issued its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates 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. Forgent Power Solutions’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. Research analysts expect that Forgent Power Solutions, Inc. will post 1.28 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird assumed 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. KeyCorp restated an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. TD Cowen raised their price target on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. Morgan Stanley set a $45.00 price target on shares of Forgent Power Solutions in a research note on Friday, October 16th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $60.00 price objective on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.21.

Forgent Power Solutions Profile

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.