Nextpower Inc. $NXT Shares Purchased by Robeco Schweiz AG

Robeco Schweiz AG lifted its position in Nextpower Inc. (NASDAQ:NXT) by 98.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,721,087 shares of the company’s stock after acquiring an additional 855,460 shares during the period. Nextpower accounts for 2.5% of Robeco Schweiz AG’s investment portfolio, making the stock its 9th biggest holding. Robeco Schweiz AG’s holdings in Nextpower were worth $134,124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NXT. Sowell Financial Services LLC grew its stake in Nextpower by 92.9% during the 3rd quarter. Sowell Financial Services LLC now owns 6,776 shares of the company’s stock valued at $528,000 after purchasing an additional 3,263 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Nextpower by 2.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 145,981 shares of the company’s stock worth $11,376,000 after purchasing an additional 4,009 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Nextpower by 31.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 112,787 shares of the company’s stock worth $8,789,000 after purchasing an additional 26,819 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Nextpower by 269.8% in the third quarter. IFP Advisors Inc now owns 18,593 shares of the company’s stock worth $1,449,000 after purchasing an additional 13,565 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Nextpower by 27.9% during the third quarter. Vontobel Holding Ltd. now owns 4,730 shares of the company’s stock worth $369,000 after purchasing an additional 1,033 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextpower Stock Performance

Shares of NXT opened at $78.89 on Friday. The business’s 50-day moving average is $83.56 and its two-hundred day moving average is $105.17. The company has a market capitalization of $11.97 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.90 and a beta of 1.94. Nextpower Inc. has a fifty-two week low of $75.40 and a fifty-two week high of $163.13.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.15. The business had revenue of $935.17 million during the quarter, compared to analysts’ expectations of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. Analysts forecast that Nextpower Inc. will post 3.80 EPS for the current year.

Insider Activity

In other Nextpower news, CEO Daniel S. Shugar sold 67,636 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $103.07, for a total value of $6,971,242.52. Following the completion of the transaction, the chief executive officer directly owned 871,131 shares of the company’s stock, valued at approximately $89,787,472.17. The trade was a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 11,176 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $104.78, for a total value of $1,171,021.28. Following the completion of the sale, the president owned 419,868 shares in the company, valued at approximately $43,993,769.04. This represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,431 shares of company stock valued at $10,039,748 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

NXT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $137.00 target price on Nextpower in a research report on Monday, August 3rd. Freedom Capital upgraded shares of Nextpower from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Robert W. Baird reduced their price target on shares of Nextpower from $156.00 to $116.00 and set an “outperform” rating for the company in a research report on Tuesday, September 22nd. Susquehanna decreased their price objective on shares of Nextpower from $157.00 to $150.00 and set a “positive” rating for the company in a research note on Wednesday, October 14th. Finally, Weiss Ratings downgraded shares of Nextpower from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.77.

About Nextpower

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company’s product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.