Cetera Investment Advisers Raises Stake in Power Solutions International, Inc. $PSIX

Cetera Investment Advisers boosted its holdings in Power Solutions International, Inc. (NASDAQ:PSIX) by 7.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,978 shares of the company’s stock after purchasing an additional 1,575 shares during the quarter. Cetera Investment Advisers owned about 0.10% of Power Solutions International worth $1,422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Power Solutions International by 102.2% in the 2nd quarter. Geode Capital Management LLC now owns 154,383 shares of the company’s stock worth $9,987,000 after purchasing an additional 78,034 shares in the last quarter. Independent Advisor Alliance purchased a new position in Power Solutions International during the first quarter valued at $1,086,000. Ritholtz Wealth Management boosted its holdings in Power Solutions International by 2.6% in the second quarter. Ritholtz Wealth Management now owns 40,873 shares of the company’s stock worth $2,644,000 after acquiring an additional 1,018 shares in the last quarter. Burney Co. grew its stake in shares of Power Solutions International by 15.5% in the second quarter. Burney Co. now owns 39,138 shares of the company’s stock worth $2,531,000 after acquiring an additional 5,248 shares during the last quarter. Finally, Corsair Capital Management L.P. increased its holdings in shares of Power Solutions International by 129.8% during the first quarter. Corsair Capital Management L.P. now owns 36,767 shares of the company’s stock valued at $929,000 after acquiring an additional 20,767 shares in the last quarter. Institutional investors own 22.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Power Solutions International in a research note on Monday. They issued a “buy” rating and a $110.51 price target on the stock. Weiss Ratings downgraded shares of Power Solutions International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, November 25th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.51.

Power Solutions International Stock Down 2.5%

PSIX opened at $52.73 on Tuesday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 10.96 and a beta of 1.59. The firm has a 50 day moving average price of $78.80 and a 200-day moving average price of $75.36. Power Solutions International, Inc. has a twelve month low of $15.30 and a twelve month high of $121.78. The company has a quick ratio of 0.65, a current ratio of 1.26 and a debt-to-equity ratio of 0.01.

Power Solutions International (NASDAQ:PSIX) last issued its earnings results on Thursday, November 6th. The company reported $1.20 earnings per share (EPS) for the quarter. The company had revenue of $203.83 million for the quarter. Power Solutions International had a net margin of 18.56% and a return on equity of 136.57%.

Insider Activity

In related news, major shareholder America Corp. Weichai sold 79,839 shares of Power Solutions International stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $93.46, for a total value of $7,461,752.94. Following the completion of the sale, the insider owned 10,599,759 shares of the company’s stock, valued at $990,653,476.14. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.96% of the stock is currently owned by company insiders.

Power Solutions International 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.