Principal Financial Group Inc. Invests $1.59 Million in Power Solutions International, Inc. $PSIX

Principal Financial Group Inc. bought a new stake in shares of Power Solutions International, Inc. (NASDAQ:PSIX) during the 3rd quarter, Holdings Channel.com reports. The firm bought 16,172 shares of the company’s stock, valued at approximately $1,588,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new position in Power Solutions International in the second quarter valued at about $26,000. Federated Hermes Inc. acquired a new stake in shares of Power Solutions International in the third quarter valued at about $26,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Power Solutions International during the 2nd quarter valued at about $43,000. Twin Peaks Wealth Advisors LLC acquired a new position in Power Solutions International during the 2nd quarter worth approximately $52,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in Power Solutions International in the 2nd quarter worth approximately $53,000. 22.28% of the stock is owned by hedge funds and other institutional investors.

Power Solutions International Price Performance

PSIX opened at $93.83 on Wednesday. The company has a market capitalization of $2.16 billion, a P/E ratio of 17.84 and a beta of 2.11. The company has a 50-day moving average of $72.30 and a 200-day moving average of $78.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.19 and a current ratio of 2.28. Power Solutions International, Inc. has a 1-year low of $18.10 and a 1-year high of $121.78.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Power Solutions International in a research note on Monday, December 1st. They set a “buy” rating and a $110.51 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Power Solutions International in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Power Solutions International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.