Diversified Trust Co Takes Position in Nextpower Inc. $NXT

Diversified Trust Co purchased a new stake in Nextpower Inc. (NASDAQ:NXT) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,995 shares of the company’s stock, valued at approximately $843,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Nextpower by 19.6% during the 1st 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 purchasing an additional 71,842 shares during the last quarter. M&T Bank Corp bought a new position in shares of Nextpower in the 2nd quarter valued at about $223,000. EverSource Wealth Advisors LLC boosted its stake in shares of Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after purchasing an additional 724 shares during the last quarter. Cerity Partners LLC grew its position in shares of Nextpower by 154.0% during the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock worth $1,008,000 after buying an additional 11,239 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock worth $12,122,000 after buying an additional 59,573 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXT has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on shares of Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $149.00 target price on shares of Nextpower in a report on Friday, May 29th. Citigroup upped their target price on shares of Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. TD Cowen increased their price target on Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group set a $140.00 price target on Nextpower and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.77.

Insider Activity at Nextpower

In other news, insider Bruce Ledesma sold 3,248 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the sale, the insider owned 246,130 shares of the company’s stock, valued at $33,158,633.60. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, COO Nicholas Marco Miller sold 22,427 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the completion of the sale, the chief operating officer directly owned 186,194 shares in the company, valued at $29,046,264. This represents a 10.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 168,574 shares of company stock valued at $22,559,770 over the last three months. Insiders own 0.56% of the company’s stock.

Nextpower Price Performance

NASDAQ:NXT opened at $116.67 on Thursday. The business’s 50-day simple moving average is $126.20 and its 200-day simple moving average is $113.30. Nextpower Inc. has a fifty-two week low of $51.69 and a fifty-two week high of $163.13. The stock has a market capitalization of $17.53 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.86 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (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 analysts’ expectations of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, research analysts expect that Nextpower Inc. will post 3.69 earnings per share for the current year.

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.