Intech Investment Management LLC Has $9.24 Million Holdings in Nextpower Inc. $NXT

Intech Investment Management LLC boosted its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 45.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,840 shares of the company’s stock after purchasing an additional 39,182 shares during the period. Intech Investment Management LLC’s holdings in Nextpower were worth $9,237,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Hantz Financial Services Inc. boosted its stake in Nextpower by 1,737.8% in the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after purchasing an additional 782 shares in the last quarter. MAI Capital Management increased its stake in shares of Nextpower by 309.4% in the second quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after buying an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Nextpower by 179.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after buying an additional 724 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Nextpower by 15.9% in the third quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock valued at $94,000 after buying an additional 173 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in Nextpower by 42,633.3% during the 3rd quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock worth $95,000 after buying an additional 1,279 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Nextpower Stock Performance

NXT opened at $106.86 on Friday. The company has a fifty day moving average price of $104.84 and a two-hundred day moving average price of $89.59. The firm has a market capitalization of $15.87 billion, a PE ratio of 27.33, a P/E/G ratio of 3.43 and a beta of 2.35. Nextpower Inc. has a 52 week low of $36.06 and a 52 week high of $131.59.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.17. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The business had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. Equities analysts forecast that Nextpower Inc. will post 3.29 EPS for the current year.

Insider Activity

In other news, CAO David P. Bennett sold 33,725 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the completion of the transaction, the chief accounting officer directly owned 130,967 shares in the company, valued at approximately $11,535,573.36. The trade was a 20.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Watkins sold 5,000 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the sale, the director directly owned 11,777 shares of the company’s stock, valued at approximately $1,396,398.89. This trade represents a 29.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NXT. BMO Capital Markets restated a “market perform” rating and issued a $104.00 price objective on shares of Nextpower in a research report on Wednesday, January 28th. UBS Group raised their price target on shares of Nextpower from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Robert W. Baird set a $126.00 price objective on shares of Nextpower in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nextpower in a report on Monday, December 29th. Finally, Royal Bank Of Canada increased their price objective on Nextpower from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.32.

Nextpower Company Profile

Nextpower, formerly known as Nextracker, is traded on NASDAQ under the symbol NXT and is a leading provider of advanced solar tracking solutions for utility-scale and distributed energy projects. The company specializes in the design, engineering and manufacturing of single-axis tracker systems that optimize the capture of solar energy by following the sun’s trajectory throughout the day. Nextpower’s core hardware offerings aim to enhance energy yield, reduce balance-of-system costs and simplify installation and maintenance for downstream solar developers and operators.

In addition to its tracker hardware, Nextpower provides a suite of digital software and analytics tools to maximize asset performance.