Nextpower Inc. $NXT Shares Purchased by Vestcor Inc

Vestcor Inc boosted its holdings in Nextpower Inc. (NASDAQ:NXT) by 480.8% in the 4th quarter, HoldingsChannel reports. The fund owned 21,947 shares of the company’s stock after acquiring an additional 18,168 shares during the quarter. Vestcor Inc’s holdings in Nextpower were worth $1,912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NXT. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Nextpower by 268.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 223 shares in the last quarter. Huntington National Bank increased its holdings in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after purchasing an additional 317 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after purchasing an additional 182 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Nextpower in the third quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Nextpower by 511.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock worth $37,000 after buying an additional 414 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextpower Stock Performance

Shares of NXT stock opened at $131.57 on Monday. The company has a market capitalization of $19.77 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 3.12 and a beta of 1.73. The firm has a 50-day moving average price of $124.30 and a 200 day moving average price of $110.23. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to the consensus estimate 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. As a group, research analysts predict that Nextpower Inc. will post 3.69 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. The Goldman Sachs Group set a $140.00 price target on Nextpower and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Citigroup upped their price target on Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Mizuho raised their price objective on Nextpower from $112.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, UBS Group reaffirmed a “buy” rating and set a $170.00 price objective on shares of Nextpower in a report on Friday, May 29th. Twenty investment 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, Nextpower currently has a consensus rating of “Moderate Buy” and an average target price of $147.27.

Insider Transactions at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer directly owned 931,419 shares in the company, valued at approximately $125,480,767.68. The trade was a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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, President Howard Wenger sold 62,670 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50. Following the transaction, the president directly owned 426,467 shares in the company, valued at approximately $55,547,326.75. This represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 168,574 shares of company stock worth $22,559,770 in the last three months. 0.56% of the stock is currently owned by company insiders.

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.