Livforsakringsbolaget Skandia Omsesidigt Grows Stock Position in Nextpower Inc. $NXT

Livforsakringsbolaget Skandia Omsesidigt raised its position in Nextpower Inc. (NASDAQ:NXT) by 15.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,734 shares of the company’s stock after acquiring an additional 9,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Nextpower were worth $8,286,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Jupiter Asset Management Ltd. raised its stake in shares of Nextpower by 0.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock valued at $2,326,000 after purchasing an additional 86 shares during the period. Root Financial Partners LLC boosted its stake in shares of Nextpower by 30.0% in the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock valued at $54,000 after purchasing an additional 103 shares during the period. Janney Montgomery Scott LLC grew its holdings in Nextpower by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock valued at $719,000 after purchasing an additional 119 shares in the last quarter. Signaturefd LLC grew its holdings in Nextpower by 4.1% during the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock valued at $280,000 after purchasing an additional 126 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Nextpower by 16.8% during the 3rd quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Buying and Selling at Nextpower

In related news, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $3,513,093.44. Following the completion of the sale, the chief executive officer directly 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 through 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, insider Bruce Ledesma sold 3,248 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the transaction, the insider directly owned 246,130 shares in the company, valued at approximately $33,158,633.60. This represents a 1.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 168,574 shares of company stock valued at $22,559,770. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NXT shares. Loop Capital set a $135.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. Mizuho raised their target price on Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Wall Street Zen lowered Nextpower from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Roth Capital reiterated a “buy” rating and issued a $155.00 price target on shares of Nextpower in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. increased their price target on Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.06.

Nextpower Price Performance

NXT opened at $104.66 on Wednesday. Nextpower Inc. has a 12-month low of $52.61 and a 12-month high of $163.13. The stock has a market capitalization of $15.73 billion, a PE ratio of 27.33, a P/E/G ratio of 1.97 and a beta of 1.86. The firm’s fifty day moving average price is $124.97 and its 200 day moving average price is $115.44.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.16. The company had revenue of $880.52 million during the quarter, compared to analyst estimates of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, equities research analysts forecast that Nextpower Inc. will post 3.77 earnings per share for the current fiscal year.

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.