Diversified Trust Co Buys New Position in Nextpower Inc. $NXT

Diversified Trust Co bought a new stake in Nextpower Inc. (NASDAQ:NXT) during the 1st quarter, Holdings Channel.com reports. The firm bought 6,995 shares of the company’s stock, valued at approximately $843,000.

A number of other large investors have also recently bought and sold shares of NXT. Westfield Capital Management Co. LP boosted its holdings in Nextpower by 6.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock worth $103,442,000 after purchasing an additional 80,493 shares during the last quarter. Legal & General Group Plc increased its stake in Nextpower by 4.6% in the 4th quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock valued at $36,090,000 after buying an additional 18,380 shares during the last quarter. Andrew Hill Investment Advisors Inc. increased its stake in Nextpower by 31.2% in the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock valued at $6,100,000 after buying an additional 16,666 shares during the last quarter. Assetmark Inc. lifted its position in Nextpower by 342,159.2% during the 4th quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock worth $37,268,000 after buying an additional 427,699 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Nextpower by 23.4% during the 3rd quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock worth $50,009,000 after buying an additional 128,296 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 other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the company’s 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 $3,513,093.44. Following the sale, the chief executive officer owned 931,419 shares in the company, valued at $125,480,767.68. This represents a 2.72% decrease in their ownership of the stock. The transaction 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, President Howard Wenger sold 62,670 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total value of $8,162,767.50. Following the completion of the sale, the president directly owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. The trade was a 12.81% decrease in their ownership of the stock. 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. Insiders have sold a total of 168,574 shares of company stock valued at $22,559,770 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Nextpower Price Performance

Shares of NXT stock opened at $116.67 on Thursday. The company has a fifty day moving average price of $126.20 and a two-hundred day moving average price of $113.30. Nextpower Inc. has a one year low of $51.69 and a one year high of $163.13. The stock has a market cap of $17.53 billion, a P/E ratio of 30.46, a P/E/G ratio of 2.86 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last released 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 for 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. As a group, equities research analysts anticipate that Nextpower Inc. will post 3.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of recent research reports. The Goldman Sachs Group set a $140.00 price objective on shares of Nextpower and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $140.00 target price on shares of Nextpower in a report on Thursday, May 14th. Northland Securities increased their price target on Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Robert W. Baird raised their price target on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Loop Capital set a $135.00 price target on Nextpower in a research report on Wednesday, May 13th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Nextpower has an average rating of “Moderate Buy” and a consensus target price of $147.77.

About Nextpower

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.