Federated Hermes Inc. Trims Stake in Nextpower Inc. $NXT

Federated Hermes Inc. cut its position in shares of Nextpower Inc. (NASDAQ:NXT) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 347,935 shares of the company’s stock after selling 19,845 shares during the period. Federated Hermes Inc.’s holdings in Nextpower were worth $18,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Michigan Retirement System increased its stake in shares of Nextpower by 0.6% during the second quarter. State of Michigan Retirement System now owns 34,600 shares of the company’s stock valued at $1,881,000 after buying an additional 200 shares during the period. Flputnam Investment Management Co. increased its position in Nextpower by 2.4% during the 1st quarter. Flputnam Investment Management Co. now owns 8,621 shares of the company’s stock valued at $363,000 after purchasing an additional 201 shares during the period. Boston Partners increased its position in Nextpower by 2.7% during the 1st quarter. Boston Partners now owns 10,494 shares of the company’s stock valued at $442,000 after purchasing an additional 280 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Nextpower by 122.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after purchasing an additional 324 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Nextpower by 2.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,013 shares of the company’s stock worth $872,000 after purchasing an additional 400 shares during the period. Institutional investors own 67.41% of the company’s stock.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $89.39 on Thursday. The firm has a market capitalization of $13.26 billion, a P/E ratio of 23.22, a P/E/G ratio of 3.07 and a beta of 2.35. The business’s 50-day moving average is $91.42 and its 200 day moving average is $72.78. Nextpower Inc. has a 1 year low of $33.29 and a 1 year high of $112.74.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Nextpower from $94.00 to $102.00 and gave the company a “buy” rating in a report on Friday, November 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Nextpower in a research report on Monday. The Goldman Sachs Group upped their price objective on Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Robert W. Baird set a $100.00 target price on Nextpower in a research note on Friday, October 31st. Finally, Guggenheim set a $74.00 target price on shares of Nextpower in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.76.

Insider Activity at Nextpower

In other Nextpower news, Director William D. Watkins sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total transaction of $918,500.00. Following the transaction, the director owned 16,777 shares in the company, valued at approximately $1,540,967.45. This represents a 37.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Daniel S. Shugar sold 47,743 shares of Nextpower stock in a transaction on Monday, November 17th. The stock was sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the sale, the chief executive officer owned 624,882 shares of the company’s stock, valued at $57,039,228.96. The trade was a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 67,460 shares of company stock worth $5,970,201. 0.56% of the stock is owned by company insiders.

Nextpower Company 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.