Busey Bank Takes $21.61 Million Position in Power Solutions International, Inc. $PSIX

Busey Bank purchased a new stake in Power Solutions International, Inc. (NASDAQ:PSIX) in the 3rd quarter, HoldingsChannel reports. The fund purchased 220,000 shares of the company’s stock, valued at approximately $21,608,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSIX. Geode Capital Management LLC raised its stake in Power Solutions International by 102.2% during the 2nd quarter. Geode Capital Management LLC now owns 154,383 shares of the company’s stock valued at $9,987,000 after purchasing an additional 78,034 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Power Solutions International in the second quarter worth $4,735,000. Raymond James Financial Inc. grew its holdings in shares of Power Solutions International by 174.6% during the second quarter. Raymond James Financial Inc. now owns 67,914 shares of the company’s stock valued at $4,393,000 after buying an additional 43,185 shares in the last quarter. Valiant Capital Management L.P. raised its position in Power Solutions International by 38.8% during the second quarter. Valiant Capital Management L.P. now owns 60,505 shares of the company’s stock valued at $3,913,000 after buying an additional 16,900 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Power Solutions International during the second quarter valued at $2,968,000. Institutional investors and hedge funds own 22.28% of the company’s stock.

Power Solutions International Stock Down 0.8%

Shares of Power Solutions International stock opened at $66.53 on Friday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 12.65 and a beta of 2.01. The stock has a 50-day simple moving average of $67.19 and a 200-day simple moving average of $77.77. Power Solutions International, Inc. has a 52-week low of $18.10 and a 52-week high of $121.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.19.

Power Solutions International (NASDAQ:PSIX) last issued its quarterly earnings data on Thursday, November 6th. The company reported $1.20 earnings per share for the quarter. The firm 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PSIX. Weiss Ratings restated a “hold (c+)” rating on shares of Power Solutions International in a research report on Monday. Jefferies Financial Group initiated coverage on shares of Power Solutions International in a research report on Monday, December 1st. They issued a “buy” rating and a $110.51 price target for the company. Finally, Wall Street Zen downgraded 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, Power Solutions International has a consensus rating of “Moderate Buy” and a consensus target price of $101.51.

Power Solutions International Profile

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.