California Public Employees Retirement System Sells 5,941 Shares of Nextpower Inc. $NXT

California Public Employees Retirement System cut its holdings in Nextpower Inc. (NASDAQ:NXT) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 246,110 shares of the company’s stock after selling 5,941 shares during the quarter. California Public Employees Retirement System’s holdings in Nextpower were worth $29,669,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NXT. Norges Bank bought a new stake in shares of Nextpower during the 4th quarter valued at $170,918,000. Amundi boosted its position in shares of Nextpower by 156.1% in the 3rd quarter. Amundi now owns 2,111,628 shares of the company’s stock worth $161,600,000 after purchasing an additional 1,287,071 shares during the last quarter. Electron Capital Partners LLC boosted its position in shares of Nextpower by 2,017.7% in the 3rd quarter. Electron Capital Partners LLC now owns 566,415 shares of the company’s stock worth $41,909,000 after purchasing an additional 539,668 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Nextpower by 142.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 848,110 shares of the company’s stock worth $73,879,000 after purchasing an additional 498,110 shares during the period. Finally, Assetmark Inc. increased its holdings in Nextpower by 342,159.2% in the fourth quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock valued at $37,268,000 after purchasing an additional 427,699 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextpower Stock Performance

Shares of NXT stock opened at $105.67 on Wednesday. Nextpower Inc. has a 52 week low of $52.61 and a 52 week high of $163.13. The company’s 50 day moving average price is $122.98 and its two-hundred day moving average price is $115.99. The company has a market capitalization of $15.88 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The company had revenue of $880.52 million during the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Analysts forecast that Nextpower Inc. will post 3.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NXT. Northland Securities boosted their target price on Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Roth Capital restated a “buy” rating and set a $155.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. Needham & Company LLC reiterated a “buy” rating and issued a $149.00 target price on shares of Nextpower in a report on Friday, May 29th. Truist Financial assumed coverage on shares of Nextpower in a research report on Monday, July 13th. They issued a “buy” rating and a $140.00 price objective for the company. Finally, Robert W. Baird raised their price objective on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.62.

Insider Buying and Selling at Nextpower

In related news, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the sale, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. The trade was a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $151.79, for a total transaction of $683,055.00. Following the completion of the transaction, the chief financial officer directly owned 358,500 shares of the company’s stock, valued at approximately $54,416,715. The trade was a 1.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 168,574 shares of company stock valued at $22,559,770 over the last quarter. 0.84% of the stock is currently owned by corporate insiders.

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.