NFJ Investment Group LLC Sells 21,757 Shares of Nextpower Inc. $NXT

NFJ Investment Group LLC lessened its position in Nextpower Inc. (NASDAQ:NXT) by 40.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 31,484 shares of the company’s stock after selling 21,757 shares during the period. NFJ Investment Group LLC’s holdings in Nextpower were worth $2,743,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Nextpower by 19.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after acquiring an additional 71,842 shares during the period. M&T Bank Corp acquired a new stake in Nextpower in the second quarter valued at approximately $223,000. EverSource Wealth Advisors LLC grew its stake in 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 acquiring an additional 724 shares during the period. Cerity Partners LLC grew its stake in Nextpower by 154.0% in the second quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after acquiring an additional 11,239 shares during the period. Finally, California Public Employees Retirement System grew its stake in Nextpower by 36.5% in the second quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after acquiring an additional 59,573 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $121.88 on Monday. The stock has a market cap of $18.31 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.89 and a beta of 1.73. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $163.13. The business’s 50 day moving average is $124.40 and its 200 day moving average is $111.34.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. The company had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities research analysts expect that Nextpower Inc. will post 3.69 earnings per share for the current year.

Insider Activity at Nextpower

In related news, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the transaction, the chief executive officer owned 931,419 shares of the company’s stock, valued at $125,480,767.68. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $151.79, for a total value of $683,055.00. Following the completion of the transaction, the chief financial officer directly owned 358,500 shares in the company, valued at approximately $54,416,715. This represents a 1.24% 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 have sold 168,574 shares of company stock valued at $22,559,770 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

NXT has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $149.00 price objective on shares of Nextpower in a research note on Friday, May 29th. Barclays raised their price objective on Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Wells Fargo & Company raised their price objective on Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Northland Securities raised their price objective on Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Weiss Ratings raised Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 20th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.77.

Nextpower 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.