Primecap Management Co. CA Increases Position in Nextpower Inc. $NXT

Primecap Management Co. CA lifted its position in shares of Nextpower Inc. (NASDAQ:NXT) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,675,821 shares of the company’s stock after purchasing an additional 83,227 shares during the period. Primecap Management Co. CA owned about 5.19% of Nextpower worth $417,334,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NXT. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Nextpower by 703.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock worth $28,000 after purchasing an additional 577 shares during the period. Cullen Frost Bankers Inc. lifted its stake in Nextpower by 122.3% in the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after acquiring an additional 324 shares during the last quarter. Summit Securities Group LLC boosted its position in shares of Nextpower by 796.0% in the first quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock valued at $38,000 after acquiring an additional 804 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nextpower during the first quarter valued at $40,000. Finally, Hantz Financial Services Inc. boosted its stake in Nextpower by 1,737.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after acquiring an additional 782 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Daniel S. Shugar sold 47,743 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $67.21, for a total transaction of $302,445.00. Following the completion of the transaction, the chief financial officer directly owned 295,059 shares of the company’s stock, valued at approximately $19,830,915.39. The trade was a 1.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,460 shares of company stock valued at $5,051,701 in the last ninety days. Insiders own 0.56% of the company’s stock.

Nextpower Price Performance

NASDAQ NXT opened at $90.55 on Wednesday. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 3.10 and a beta of 2.31. Nextpower Inc. has a 1 year low of $33.29 and a 1 year high of $112.74. The stock’s fifty day moving average price is $85.68 and its 200 day moving average price is $68.81.

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

Analyst Ratings Changes

Several research firms have issued reports on NXT. Robert W. Baird set a $100.00 price objective on Nextpower in a research note on Friday, October 31st. Needham & Company LLC started coverage on shares of Nextpower in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $102.00 price target on the stock. Royal Bank Of Canada boosted their price target on shares of Nextpower from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Northland Securities reaffirmed a “market perform” rating on shares of Nextpower in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group lifted their target price on shares of Nextpower from $84.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.76.

Nextpower 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.