Scholtz & Company LLC Takes $1.89 Million Position in Forgent Power Solutions, Inc. $FPS

Scholtz & Company LLC purchased a new position in shares of Forgent Power Solutions, Inc. (NYSE:FPS) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 33,869 shares of the company’s stock, valued at approximately $1,892,000.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Forgent Power Solutions during the second quarter worth approximately $30,000. Triumph Capital Management acquired a new stake in shares of Forgent Power Solutions during the 2nd quarter worth approximately $39,000. IFP Advisors Inc acquired a new stake in shares of Forgent Power Solutions in the 2nd quarter valued at $48,000. Hollencrest Capital Management bought a new position in Forgent Power Solutions in the second quarter valued at about $56,000. Finally, Allworth Financial LP bought a new stake in shares of Forgent Power Solutions during the 2nd quarter valued at approximately $86,000.

Forgent Power Solutions Stock Performance

FPS stock opened at $31.07 on Thursday. The stock’s fifty day moving average price is $36.93 and its 200-day moving average price is $40.30. The company has a market cap of $9.46 billion and a P/E ratio of 207.11. Forgent Power Solutions, Inc. has a 1 year low of $25.95 and a 1 year high of $66.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.64 and a quick ratio of 1.16.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FPS. KeyCorp increased their target price on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Wolfe Research reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Forgent Power Solutions in a report on Thursday, July 9th. Robert W. Baird started coverage on Forgent Power Solutions in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Oppenheimer upped their price target on shares of Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.75.

Forgent Power Solutions Profile

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.