Nextpower Inc. $NXT Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its position in shares of Nextpower Inc. (NASDAQ:NXT) by 23.4% in the 3rd quarter, Holdings Channel reports. The firm owned 675,886 shares of the company’s stock after purchasing an additional 128,296 shares during the period. American Century Companies Inc.’s holdings in Nextpower were worth $50,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Nextpower by 19.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock worth $18,436,000 after buying an additional 71,842 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Nextpower by 1,737.8% during the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after acquiring an additional 782 shares during the last quarter. State of Michigan Retirement System grew its stake in Nextpower by 0.6% during the 2nd quarter. State of Michigan Retirement System now owns 34,600 shares of the company’s stock valued at $1,881,000 after acquiring an additional 200 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Nextpower by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,138,496 shares of the company’s stock valued at $61,900,000 after acquiring an additional 35,642 shares during the last quarter. Finally, Savant Capital LLC acquired a new stake in Nextpower in the 2nd quarter valued at about $275,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling at Nextpower

In other Nextpower news, Director William D. Watkins sold 5,000 shares of Nextpower stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director directly owned 11,777 shares of the company’s stock, valued at $1,396,398.89. The trade was a 29.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO David P. Bennett sold 33,725 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the sale, the chief accounting officer owned 130,967 shares in the company, valued at $11,535,573.36. This trade represents a 20.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NXT shares. KeyCorp upgraded Nextpower from a “sector weight” rating to an “overweight” rating and set a $142.00 target price on the stock in a report on Wednesday, January 28th. Wells Fargo & Company lifted their price objective on Nextpower from $109.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Mizuho set a $81.00 target price on Nextpower in a report on Friday, January 23rd. Barclays set a $115.00 target price on Nextpower in a research note on Thursday, January 29th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $104.00 price target on shares of Nextpower in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Nextpower has a consensus rating of “Moderate Buy” and an average target price of $108.32.

Nextpower Stock Performance

Shares of NXT stock opened at $103.40 on Friday. The firm has a market cap of $15.35 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.06 and a beta of 2.41. The firm’s 50 day moving average price is $106.10 and its 200-day moving average price is $91.25. Nextpower Inc. has a one year low of $36.06 and a one year high of $131.59.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The company had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. As a group, research analysts predict that Nextpower Inc. will post 3.29 EPS 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.