Strs Ohio Has $18.19 Million Stake in Nextpower Inc. $NXT

Strs Ohio boosted its holdings in Nextpower Inc. (NASDAQ:NXT) by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,900 shares of the company’s stock after buying an additional 6,000 shares during the period. Strs Ohio owned approximately 0.10% of Nextpower worth $18,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in Nextpower by 4.6% in the fourth quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock valued at $36,090,000 after purchasing an additional 18,380 shares during the last quarter. Andrew Hill Investment Advisors Inc. boosted its holdings in Nextpower by 31.2% during the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock worth $6,100,000 after buying an additional 16,666 shares during the last quarter. Assetmark Inc. boosted its holdings in Nextpower by 342,159.2% during the fourth quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock worth $37,268,000 after buying an additional 427,699 shares during the last quarter. Granahan Investment Management LLC grew its position in shares of Nextpower by 219.8% during the 3rd quarter. Granahan Investment Management LLC now owns 415,166 shares of the company’s stock worth $30,718,000 after buying an additional 285,362 shares during the period. Finally, Azzad Asset Management Inc. ADV acquired a new position in shares of Nextpower during the 4th quarter worth about $988,000. 67.41% of the stock is owned by institutional investors.

Nextpower Stock Performance

NXT opened at $112.84 on Friday. The stock’s fifty day simple moving average is $126.55 and its 200 day simple moving average is $114.28. Nextpower Inc. has a 1-year low of $52.61 and a 1-year high of $163.13. The stock has a market cap of $16.96 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 2.66 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data 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. The company had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities analysts forecast that Nextpower Inc. will post 3.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of recent analyst reports. Mizuho upped their price objective on shares of Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. BMO Capital Markets lifted their price objective on shares of Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. BNP Paribas Exane boosted their price objective on shares of Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. The Goldman Sachs Group restated a “buy” rating and set a $168.00 target price on shares of Nextpower in a report on Wednesday. Finally, Northland Securities raised their target price on shares of Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Twenty research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.69.

Insider Activity

In other news, President Howard Wenger sold 62,670 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the completion of the sale, the president owned 426,467 shares in the company, valued at $55,547,326.75. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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, insider Bruce Ledesma sold 3,248 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the transaction, the insider directly owned 246,130 shares in the company, valued at $33,158,633.60. The trade was a 1.30% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last three months, insiders sold 168,574 shares of company stock valued at $22,559,770. Company insiders own 0.56% of the company’s stock.

About Nextpower

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.