Cetera Investment Advisers Boosts Holdings in Power Solutions International, Inc. $PSIX

Cetera Investment Advisers boosted its holdings in shares of Power Solutions International, Inc. (NASDAQ:PSIX) by 7.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,978 shares of the company’s stock after buying an additional 1,575 shares during the quarter. Cetera Investment Advisers’ holdings in Power Solutions International were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PSIX. Charles Schwab Investment Management Inc. purchased a new position in shares of Power Solutions International during the 1st quarter worth $782,000. Mutual Advisors LLC bought a new position in Power Solutions International in the 2nd quarter worth $234,000. Thoroughbred Financial Services LLC lifted its position in Power Solutions International by 108.8% during the first quarter. Thoroughbred Financial Services LLC now owns 21,783 shares of the company’s stock valued at $550,000 after purchasing an additional 11,350 shares in the last quarter. Perigon Wealth Management LLC purchased a new position in Power Solutions International during the second quarter valued at $322,000. Finally, Bay Rivers Group bought a new stake in Power Solutions International during the second quarter valued at about $233,000. 22.28% of the stock is currently owned by institutional investors.

Power Solutions International Trading Down 2.5%

Power Solutions International stock opened at $52.73 on Tuesday. Power Solutions International, Inc. has a 1 year low of $15.30 and a 1 year high of $121.78. The firm’s 50 day moving average price is $78.80 and its 200-day moving average price is $75.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.65. The stock has a market cap of $1.21 billion, a P/E ratio of 10.96 and a beta of 1.59.

Power Solutions International (NASDAQ:PSIX) last issued its earnings results on Thursday, November 6th. The company reported $1.20 earnings per share for the quarter. The firm had revenue of $203.83 million during the quarter. Power Solutions International had a net margin of 18.56% and a return on equity of 136.57%.

Wall Street Analyst Weigh In

PSIX has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Power Solutions International in a research note on Monday. They issued a “buy” rating and a $110.51 price objective on the stock. Weiss Ratings cut shares of Power Solutions International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Power Solutions International currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.51.

Insider Activity at Power Solutions International

In other news, major shareholder America Corp. Weichai sold 79,839 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $93.46, for a total transaction of $7,461,752.94. Following the completion of the transaction, the insider owned 10,599,759 shares in the company, valued at $990,653,476.14. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

About Power Solutions International

Power Solutions International, Inc engages in the design, manufacture, and trade of power systems and electrical power generation equipment. The firm provides integrated turnkey solutions to global original equipment manufacturers and end-user customers within the energy, industrial, and transportation end markets.