Pictet Asset Management Holding SA Buys 50,700 Shares of Forgent Power Solutions, Inc. $FPS

Pictet Asset Management Holding SA boosted its stake in shares of Forgent Power Solutions, Inc. (NYSE:FPS) by 9.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 569,948 shares of the company’s stock after purchasing an additional 50,700 shares during the quarter. Pictet Asset Management Holding SA owned about 0.19% of Forgent Power Solutions worth $21,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Value Aligned Research Advisors LLC bought a new position in shares of Forgent Power Solutions in the second quarter valued at approximately $176,441,000. State Street Corp acquired a new stake in shares of Forgent Power Solutions in the second quarter worth $118,073,000. Assenagon Asset Management S.A. boosted its holdings in shares of Forgent Power Solutions by 177.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company’s stock worth $71,153,000 after buying an additional 1,216,571 shares during the period. Spyglass Capital Management LLC bought a new stake in shares of Forgent Power Solutions during the 2nd quarter worth $39,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Forgent Power Solutions in the 2nd quarter valued at $23,123,000.

Forgent Power Solutions Price Performance

FPS opened at $24.61 on Thursday. Forgent Power Solutions, Inc. has a 1-year low of $17.67 and a 1-year high of $66.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 1.07. The business has a 50 day moving average of $31.98 and a 200-day moving average of $38.10.

Forgent Power Solutions (NYSE:FPS) last announced its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 earnings per share (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 business had revenue of $461.67 million for the quarter. The business’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. On average, equities analysts expect that Forgent Power Solutions, Inc. will post 1.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on FPS. JPMorgan Chase & Co. dropped their target price on shares of Forgent Power Solutions from $49.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday. Zacks Research upgraded shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. Roth Capital started coverage on Forgent Power Solutions in a research report on Friday, November 6th. They issued a “buy” rating on the stock. TD Cowen lifted their price objective on Forgent Power Solutions from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Finally, Jefferies Financial Group dropped their price objective on Forgent Power Solutions from $47.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.21.

Forgent Power Solutions Profile

Forgent Power Solutions designs and manufactures electrical power distribution equipment for applications that require reliable, continuous power. Its products support the delivery and management of electricity within facilities, including data centers and other commercial and industrial environments. The company focuses on equipment used in critical power systems, where dependable distribution is essential to operations. Forgent serves customers primarily in North America, with products and services supporting facilities in other markets as well.