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

Allspring Global Investments Holdings LLC lowered its position in Power Solutions International, Inc. (NASDAQ:PSIX) by 8.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 301,168 shares of the company’s stock after selling 27,593 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.31% of Power Solutions International worth $19,931,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PSIX. Caitong International Asset Management Co. Ltd grew its holdings in shares of Power Solutions International by 2,672.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 294 shares in the last quarter. California State Teachers Retirement System purchased a new stake in Power Solutions International in the second quarter valued at approximately $26,000. Global Assets Advisory LLC purchased a new stake in Power Solutions International in the first quarter valued at approximately $33,000. New York State Teachers Retirement System bought a new stake in Power Solutions International during the first quarter valued at approximately $48,000. Finally, State of Wyoming bought a new stake in Power Solutions International during the fourth quarter valued at approximately $49,000. Institutional investors own 22.28% of the company’s stock.

Power Solutions International Trading Up 6.3%

Shares of PSIX opened at $31.78 on Wednesday. The firm has a market cap of $732.53 million, a price-to-earnings ratio of 7.16 and a beta of 2.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.81 and a current ratio of 3.42. Power Solutions International, Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $121.78. The firm has a 50 day moving average price of $37.92 and a 200-day moving average price of $59.92.

Analyst Ratings Changes

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