Forgent Power Solutions, Inc. $FPS Stake Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of Forgent Power Solutions, Inc. (NYSE:FPS) by 9.8% during the third quarter, Holdings Channel reports. The institutional investor owned 569,948 shares of the company’s stock after purchasing an additional 50,700 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Forgent Power Solutions were worth $21,339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FPS. Northwestern Mutual Wealth Management Co. acquired a new position in Forgent Power Solutions in the 2nd quarter valued at approximately $30,000. City State Bank bought a new stake in shares of Forgent Power Solutions in the 3rd quarter worth approximately $32,000. GAMMA Investing LLC grew its holdings in shares of Forgent Power Solutions by 918.5% during the 3rd quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after purchasing an additional 845 shares in the last quarter. Triumph Capital Management acquired a new stake in shares of Forgent Power Solutions during the 2nd quarter worth approximately $39,000. Finally, WPG Advisers LLC grew its holdings in shares of Forgent Power Solutions by 417.6% during the 3rd quarter. WPG Advisers LLC now owns 1,144 shares of the company’s stock worth $43,000 after purchasing an additional 923 shares in the last quarter.

Forgent Power Solutions Trading Up 14.6%

Shares of FPS opened at $24.61 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 12 month low of $17.67 and a 12 month high of $66.00. The company has a 50-day moving average price of $31.98 and a two-hundred day moving average price of $38.10.

Forgent Power Solutions (NYSE:FPS) last released its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. 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. On average, research analysts predict that Forgent Power Solutions, Inc. will post 1.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FPS. Sanford C. Bernstein started coverage on Forgent Power Solutions in a research note on Friday, October 2nd. They issued an “outperform” rating and a $48.00 target price for the company. Wells Fargo & Company started coverage on Forgent Power Solutions in a research report on Thursday, September 24th. They issued an “equal weight” rating and a $44.00 target price for the company. Weiss Ratings downgraded shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Clear Str raised shares of Forgent Power Solutions to a “strong-buy” rating in a report on Monday, October 26th. Finally, KeyCorp restated an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Three research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Forgent Power Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.21.

About Forgent Power Solutions

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.