Allspring Global Investments Holdings LLC Takes $19 Million Position in Power Solutions International, Inc. $PSIX

Allspring Global Investments Holdings LLC purchased a new position in shares of Power Solutions International, Inc. (NASDAQ:PSIX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 206,089 shares of the company’s stock, valued at approximately $19,001,000.

Several other large investors have also modified their holdings of PSIX. Goldman Sachs Group Inc. acquired a new position in shares of Power Solutions International during the 1st quarter worth about $625,000. Acadian Asset Management LLC acquired a new stake in shares of Power Solutions International during the 1st quarter worth about $112,000. GK Wealth Management LLC bought a new stake in Power Solutions International during the 2nd quarter worth approximately $329,000. Bay Rivers Group bought a new position in shares of Power Solutions International in the second quarter valued at about $233,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Power Solutions International by 88.0% during the second quarter. Farther Finance Advisors LLC now owns 1,651 shares of the company’s stock valued at $107,000 after purchasing an additional 773 shares during the last quarter. 22.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PSIX shares. Wall Street Zen lowered shares of Power Solutions International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Power Solutions International in a research note on Monday, December 29th. Finally, Jefferies Financial Group initiated coverage on shares of Power Solutions International in a research report on Monday, December 1st. They set a “buy” rating and a $110.51 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Power Solutions International currently has an average rating of “Moderate Buy” and a consensus target price of $101.51.

Power Solutions International Stock Performance

PSIX opened at $61.53 on Monday. 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, Inc. has a 1 year low of $18.10 and a 1 year high of $121.78. The business has a fifty day simple moving average of $64.57 and a 200 day simple moving average of $78.50. The company has a market capitalization of $1.42 billion, a PE ratio of 11.70 and a beta of 2.02.

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

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.