Corbyn Investment Management Inc. MD Sells 13,030 Shares of Nextpower Inc. $NXT

Key Points

• Corbyn Investment Management cut its Nextpower stake by 16% in the first quarter, selling 13,030 shares and leaving it with 68,608 shares worth about $8.27 million.
• Several other institutions also adjusted holdings, and institutional investors now own 67.41% of Nextpower, showing continued heavy professional ownership.
• Nextpower reported better-than-expected quarterly results with EPS of $1.05 and revenue of $880.52 million, while analysts remain mostly bullish with a Moderate Buy consensus and a $148.69 price target.

Corbyn Investment Management Inc. MD reduced its holdings in Nextpower Inc. (NASDAQ:NXT - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,608 shares of the company's stock after selling 13,030 shares during the period. Nextpower makes up about 2.8% of Corbyn Investment Management Inc. MD's investment portfolio, making the stock its 13th biggest position. Corbyn Investment Management Inc. MD's holdings in Nextpower were worth $8,271,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Nextpower by 19.6% in 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 stake in Nextpower in the second quarter valued at about $223,000. EverSource Wealth Advisors LLC lifted its stake in Nextpower by 179.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company's stock valued at $61,000 after buying an additional 724 shares during the period. Cerity Partners LLC boosted its holdings in Nextpower by 154.0% during the second 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 last quarter. Finally, California Public Employees Retirement System boosted its holdings in Nextpower by 36.5% during the second 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 last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.

Insiders Place Their Bets

In other Nextpower news, insider Bruce Ledesma sold 3,248 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the sale, the insider owned 246,130 shares in the company, valued at approximately $33,158,633.60. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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, President Howard Wenger sold 62,670 shares of the firm'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 transaction, the president directly owned 426,467 shares of the company's stock, valued at $55,547,326.75. This represents a 12.81% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 168,574 shares of company stock worth $22,559,770 in the last 90 days. Company insiders own 0.56% of the company's stock.

Nextpower Price Performance

Nextpower stock opened at $112.84 on Monday. The stock has a market capitalization 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 Inc. has a twelve month low of $52.61 and a twelve month high of $163.13. The company has a 50 day moving average of $126.55 and a 200-day moving average of $114.47.

Nextpower (NASDAQ:NXT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.16. The business 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 anticipate that Nextpower Inc. will post 3.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NXT shares. Weiss Ratings cut Nextpower from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. Susquehanna boosted their price objective on shares of Nextpower from $161.00 to $180.00 and gave the company a "positive" rating in a report on Monday, June 1st. Wolfe Research reaffirmed an "outperform" rating and issued a $160.00 target price on shares of Nextpower in a research note on Friday, May 29th. Northland Securities increased their target price on shares of Nextpower from $148.00 to $162.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Finally, Royal Bank Of Canada lifted their price target on shares of Nextpower from $146.00 to $149.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Nextpower presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.69.

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.

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