Forgent Power Solutions, Inc. $FPS Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its position in Forgent Power Solutions, Inc. (NYSE:FPS) by 81.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,374 shares of the company’s stock after selling 48,742 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Forgent Power Solutions were worth $426,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FPS. Value Aligned Research Advisors LLC purchased a new stake in shares of Forgent Power Solutions during the second quarter worth about $176,441,000. State Street Corp bought a new stake in shares of Forgent Power Solutions in the second quarter worth about $118,073,000. Assenagon Asset Management S.A. increased its holdings in 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 valued at $71,153,000 after purchasing an additional 1,216,571 shares during the period. Spyglass Capital Management LLC purchased a new position in Forgent Power Solutions during the 2nd quarter valued at about $39,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Forgent Power Solutions during the 2nd quarter valued at about $23,123,000.

Forgent Power Solutions Trading Down 0.5%

NYSE:FPS opened at $19.39 on Monday. The company has a 50-day moving average price of $32.41 and a 200-day moving average price of $38.35. The stock has a market cap of $5.90 billion and a price-to-earnings ratio of 49.71. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. Forgent Power Solutions, Inc. has a 12 month low of $17.67 and a 12 month high of $66.00.

Forgent Power Solutions (NYSE:FPS) last announced its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, beating 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 company’s quarterly revenue 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 analysts predict that Forgent Power Solutions, Inc. will post 1.28 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley set a $45.00 price target on Forgent Power Solutions in a research report on Friday, October 16th. Robert W. Baird started coverage on Forgent Power Solutions in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price objective on the stock. KeyCorp reissued an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Sanford C. Bernstein initiated coverage on Forgent Power Solutions in a report on Friday, October 2nd. They set an “outperform” rating and a $48.00 target price for the company. Finally, TD Cowen upped their target price on Forgent Power Solutions from $73.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Forgent Power Solutions Profile