Geode Capital Management LLC Has $9.99 Million Stock Position in Power Solutions International, Inc. $PSIX

Geode Capital Management LLC grew its stake in Power Solutions International, Inc. (NASDAQ:PSIX) by 102.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 154,383 shares of the company’s stock after buying an additional 78,034 shares during the quarter. Geode Capital Management LLC’s holdings in Power Solutions International were worth $9,987,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PSIX. Rathbones Group PLC bought a new stake in Power Solutions International in the 2nd quarter valued at $239,000. Burney Co. increased its holdings in Power Solutions International by 15.5% during the 2nd quarter. Burney Co. now owns 39,138 shares of the company’s stock worth $2,531,000 after purchasing an additional 5,248 shares in the last quarter. Aviance Capital Partners LLC acquired a new stake in shares of Power Solutions International in the 2nd quarter valued at about $243,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Power Solutions International by 890.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 1,980 shares of the company’s stock valued at $128,000 after purchasing an additional 1,780 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of Power Solutions International during the second quarter worth about $53,000. Institutional investors own 22.28% of the company’s stock.

Insiders Place Their Bets

In other Power Solutions International news, major shareholder America Corp. Weichai sold 79,839 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $93.46, for a total transaction of $7,461,752.94. Following the sale, the insider directly owned 10,599,759 shares of the company’s stock, valued at approximately $990,653,476.14. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

PSIX has been the topic of a number of recent research reports. Jefferies Financial Group started coverage on Power Solutions International in a research report on Monday. They issued a “buy” rating and a $110.51 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Power Solutions International in a research note on Monday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $101.51.

Power Solutions International Stock Performance

PSIX opened at $58.68 on Thursday. The business’s 50-day simple moving average is $76.53 and its 200 day simple moving average is $75.37. Power Solutions International, Inc. has a 52-week low of $15.30 and a 52-week high of $121.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.19 and a current ratio of 2.28. The firm has a market capitalization of $1.35 billion, a PE ratio of 11.16 and a beta of 2.01.

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

Power Solutions International Company Profile

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.