Prudential Financial Inc. Buys 138,867 Shares of Nextpower Inc. $NXT

Prudential Financial Inc. increased its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 200.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,979 shares of the company’s stock after purchasing an additional 138,867 shares during the period. Prudential Financial Inc. owned approximately 0.14% of Nextpower worth $11,308,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NXT. Bryce Point Capital LLC acquired a new stake in shares of Nextpower in the 2nd quarter valued at approximately $998,000. Ethic Inc. grew its holdings in Nextpower by 65.1% during the second quarter. Ethic Inc. now owns 8,469 shares of the company’s stock valued at $494,000 after purchasing an additional 3,339 shares during the period. Bank of New York Mellon Corp grew its holdings in Nextpower by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,138,496 shares of the company’s stock valued at $61,900,000 after purchasing an additional 35,642 shares during the period. Hsbc Holdings PLC increased its stake in Nextpower by 323.7% in the first quarter. Hsbc Holdings PLC now owns 74,038 shares of the company’s stock valued at $3,118,000 after purchasing an additional 56,564 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Nextpower by 22.2% in the first quarter. Raymond James Financial Inc. now owns 157,634 shares of the company’s stock worth $6,643,000 after purchasing an additional 28,683 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Buying and Selling at Nextpower

In other news, President Howard Wenger sold 5,217 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $75.00, for a total transaction of $391,275.00. Following the completion of the transaction, the president directly owned 409,039 shares in the company, valued at $30,677,925. This represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel S. Shugar sold 47,743 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $91.28, for a total value of $4,357,981.04. Following the completion of the transaction, the chief executive officer owned 624,882 shares of the company’s stock, valued at $57,039,228.96. The trade was a 7.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 67,460 shares of company stock worth $5,970,201 in the last three months. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NXT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Nextpower in a research report on Tuesday. Robert W. Baird set a $100.00 price objective on Nextpower in a research note on Friday, October 31st. Susquehanna lifted their target price on Nextpower from $76.00 to $100.00 and gave the stock a “positive” rating in a report on Monday, October 13th. Wells Fargo & Company increased their price target on Nextpower from $72.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group raised their price target on Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.76.

Nextpower Price Performance

NXT stock opened at $90.67 on Friday. The stock has a market capitalization of $13.45 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.14 and a beta of 2.31. Nextpower Inc. has a fifty-two week low of $33.29 and a fifty-two week high of $112.74. The business has a 50-day moving average of $88.59 and a 200-day moving average of $70.65.

Nextpower (NASDAQ:NXT) last released its earnings results on Thursday, October 23rd. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.98 by $0.21. Nextpower had a return on equity of 35.05% and a net margin of 17.08%.The firm had revenue of $905.27 million for the quarter, compared to analysts’ expectations of $839.53 million. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. Equities analysts expect that Nextpower Inc. will post 3.29 EPS for the current year.

Nextpower Company Profile

Nextpower, formerly known as Nextracker, an energy solutions company, provides solar trackers and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.