Creative Planning Invests $687,000 in Power Solutions International, Inc. $PSIX

Creative Planning bought a new stake in Power Solutions International, Inc. (NASDAQ:PSIX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,623 shares of the company’s stock, valued at approximately $687,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSIX. Wolff Wiese Magana LLC acquired a new stake in Power Solutions International during the 2nd quarter worth about $26,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Power Solutions International in the second quarter worth about $53,000. Vestcor Inc acquired a new stake in shares of Power Solutions International during the first quarter worth about $29,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Power Solutions International in the second quarter valued at approximately $92,000. Finally, Farther Finance Advisors LLC boosted its position in Power Solutions International by 88.0% in the second quarter. Farther Finance Advisors LLC now owns 1,651 shares of the company’s stock valued at $107,000 after buying an additional 773 shares during the last quarter. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Power Solutions International Trading Up 7.7%

Shares of NASDAQ:PSIX opened at $58.68 on Thursday. Power Solutions International, Inc. has a 12-month low of $15.30 and a 12-month high of $121.78. The company has a market capitalization of $1.35 billion, a PE ratio of 11.16 and a beta of 2.01. The business has a 50 day moving average of $76.53 and a two-hundred day moving average of $75.37. The company has a current ratio of 2.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.59.

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

Insider Buying and Selling

In other Power Solutions International news, major shareholder America Corp. Weichai sold 79,839 shares of Power Solutions International stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $93.46, for a total value of $7,461,752.94. Following the completion of the transaction, the insider owned 10,599,759 shares of the company’s stock, valued at approximately $990,653,476.14. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

PSIX has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on shares of Power Solutions International in a research report on Monday. They set a “buy” rating and a $110.51 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Power Solutions International in a report on Monday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Power Solutions International presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.51.

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.