Nextpower Inc. $NXT Shares Bought by Strs Ohio

Strs Ohio increased its position in Nextpower Inc. (NASDAQ:NXT) by 219.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,000 shares of the company’s stock after acquiring an additional 75,600 shares during the period. Strs Ohio owned approximately 0.07% of Nextpower worth $8,139,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Primecap Management Co. CA boosted its stake in Nextpower by 1.1% during the 2nd quarter. Primecap Management Co. CA now owns 7,675,821 shares of the company’s stock valued at $417,334,000 after purchasing an additional 83,227 shares during the period. Encompass Capital Advisors LLC raised its holdings in shares of Nextpower by 11.0% during the second quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company’s stock valued at $158,748,000 after buying an additional 289,663 shares during the last quarter. Norges Bank acquired a new position in shares of Nextpower during the second quarter worth approximately $140,772,000. Handelsbanken Fonder AB grew its holdings in Nextpower by 8.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 2,303,206 shares of the company’s stock worth $125,225,000 after buying an additional 176,530 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Nextpower by 6.0% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,317,564 shares of the company’s stock valued at $71,636,000 after acquiring an additional 74,413 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Nextpower Trading Down 0.2%

Shares of NASDAQ NXT opened at $105.00 on Monday. Nextpower Inc. has a twelve month low of $36.06 and a twelve month high of $112.74. The firm has a 50-day moving average of $91.27 and a two-hundred day moving average of $80.42. The company has a market capitalization of $15.58 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 3.29 and a beta of 2.38.

Nextpower (NASDAQ:NXT) last released its earnings results on Thursday, October 23rd. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. The business had revenue of $905.27 million for the quarter, compared to the consensus estimate of $839.53 million. As a group, research analysts predict that Nextpower Inc. will post 3.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Daniel S. Shugar sold 47,743 shares of the 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 completion of the sale, the chief executive officer owned 624,882 shares in the company, valued at approximately $57,039,228.96. This represents a 7.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David P. Bennett sold 33,725 shares of Nextpower stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $88.08, for a total value of $2,970,498.00. Following the completion of the transaction, the chief accounting officer owned 130,967 shares in the company, valued at $11,535,573.36. The trade was a 20.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 91,468 shares of company stock worth $8,246,979. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on NXT shares. Wells Fargo & Company boosted their price target on Nextpower from $72.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Roth Mkm reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Nextpower in a report on Thursday, November 13th. UBS Group increased their target price on shares of Nextpower to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Mizuho set a $81.00 price target on shares of Nextpower in a research report on Friday. Finally, Bank of America upped their price target on shares of Nextpower from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.10.

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.