Allspring Global Investments Holdings LLC Reduces Holdings in Power Solutions International, Inc. $PSIX

Allspring Global Investments Holdings LLC trimmed its stake in shares of Power Solutions International, Inc. (NASDAQ:PSIX) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,168 shares of the company’s stock after selling 27,593 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Power Solutions International were worth $19,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Situational Awareness LP bought a new stake in shares of Power Solutions International in the fourth quarter worth about $24,702,000. Arrowstreet Capital Limited Partnership grew its position in shares of Power Solutions International by 344.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 325,085 shares of the company’s stock worth $31,930,000 after buying an additional 251,883 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in shares of Power Solutions International during the fourth quarter valued at approximately $13,052,000. SG Americas Securities LLC increased its stake in shares of Power Solutions International by 12,036.6% during the first quarter. SG Americas Securities LLC now owns 216,395 shares of the company’s stock valued at $13,174,000 after buying an additional 214,612 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Power Solutions International by 802.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 201,891 shares of the company’s stock valued at $11,538,000 after acquiring an additional 179,511 shares in the last quarter. 22.28% of the stock is owned by hedge funds and other institutional investors.

Power Solutions International Stock Up 6.3%

PSIX stock opened at $31.78 on Wednesday. Power Solutions International, Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $121.78. The company has a market capitalization of $732.53 million, a price-to-earnings ratio of 7.16 and a beta of 2.00. The business’s 50 day moving average price is $37.92 and its two-hundred day moving average price is $59.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.81 and a current ratio of 3.42.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PSIX shares. Weiss Ratings lowered Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Freedom Capital downgraded shares of Power Solutions International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group decreased their price objective on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a report on Tuesday, March 24th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $99.95.

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.