Ritholtz Wealth Management Decreases Position in Power Solutions International, Inc. $PSIX

Ritholtz Wealth Management decreased its holdings in Power Solutions International, Inc. (NASDAQ:PSIX) by 28.7% in the third quarter, Holdings Channel reports. The firm owned 29,137 shares of the company’s stock after selling 11,736 shares during the period. Ritholtz Wealth Management’s holdings in Power Solutions International were worth $2,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSIX. Busey Bank acquired a new position in Power Solutions International during the 3rd quarter valued at about $21,608,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Power Solutions International during the third quarter worth about $19,001,000. Geode Capital Management LLC increased its holdings in shares of Power Solutions International by 102.2% during the second quarter. Geode Capital Management LLC now owns 154,383 shares of the company’s stock valued at $9,987,000 after acquiring an additional 78,034 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Power Solutions International in the 2nd quarter valued at approximately $4,735,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Power Solutions International in the 2nd quarter valued at approximately $2,968,000. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

Power Solutions International Trading Up 0.7%

NASDAQ PSIX opened at $76.00 on Friday. The company has a market capitalization of $1.75 billion, a PE ratio of 14.45 and a beta of 2.02. The company has a fifty day moving average of $61.94 and a 200 day moving average of $78.83. Power Solutions International, Inc. has a 1 year low of $18.10 and a 1 year high of $121.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.19.

Power Solutions International (NASDAQ:PSIX) last announced its quarterly earnings results on Thursday, November 6th. The company reported $1.20 earnings per share for the quarter. The company had revenue of $203.83 million for the quarter. Power Solutions International had a return on equity of 109.04% and a net margin of 17.94%.

Analyst Upgrades and Downgrades

PSIX has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Power Solutions International in a research report on Monday, December 29th. Wall Street Zen lowered shares of Power Solutions International from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Jefferies Financial Group began coverage on Power Solutions International in a research report on Monday, December 1st. They issued a “buy” rating and a $110.51 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.51.

About Power Solutions International

Power Solutions International, Inc is a global designer and manufacturer of integrated powertrain solutions for commercial vehicle, industrial and military applications. Headquartered in Wood Dale, Illinois, the company develops and assembles advanced diesel engine and transmission packages under the Atlas® brand, combining proprietary engine technology with high-efficiency transmissions to deliver power-dense systems. These solutions are tailored for medium- and heavy-duty trucks, buses, construction equipment, generator sets and specialty vehicles.

In addition to complete powertrain systems, the company offers a broad range of component products including diesel engines, transmissions and aftertreatment modules.