Epoch Investment Partners Inc. Invests $17.48 Million in Nextpower Inc. $NXT

Key Points

• Epoch Investment Partners disclosed a new first-quarter stake in Nextpower, buying 145,024 shares valued at about $17.48 million, or roughly 0.10% of the company.
• Several other institutional investors also adjusted their positions, and institutions now hold 67.41% of Nextpower’s shares, highlighting strong professional ownership.
• Nextpower’s stock was trading down 4.3% at $100.03, even after the company recently beat quarterly earnings and revenue estimates; analysts currently rate the stock Moderate Buy with a consensus target price of $150.62.

Epoch Investment Partners Inc. bought a new stake in Nextpower Inc. (NASDAQ:NXT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 145,024 shares of the company's stock, valued at approximately $17,483,000. Epoch Investment Partners Inc. owned approximately 0.10% of Nextpower as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Nextpower by 19.6% in 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 purchasing an additional 71,842 shares in the last quarter. M&T Bank Corp bought a new position in Nextpower during the 2nd quarter worth approximately $223,000. EverSource Wealth Advisors LLC lifted its holdings in Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company's stock worth $61,000 after buying an additional 724 shares during the last quarter. Cerity Partners LLC grew its position in shares of Nextpower by 154.0% in the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company's stock worth $1,008,000 after acquiring an additional 11,239 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Nextpower by 36.5% in the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company's stock worth $12,122,000 after acquiring an additional 59,573 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

Insider Buying and Selling

In other Nextpower news, COO Nicholas Marco Miller sold 22,427 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.00, for a total value of $3,498,612.00. Following the sale, the chief operating officer directly owned 186,194 shares in the company, valued at approximately $29,046,264. This trade represents a 10.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 62,670 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were 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 approximately $55,547,326.75. This trade represents a 12.81% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 168,574 shares of company stock valued at $22,559,770 in the last three months. 0.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NXT. Susquehanna dropped their price target on Nextpower from $180.00 to $168.00 and set a "positive" rating on the stock in a research report on Friday, July 10th. Jefferies Financial Group set a $153.00 price objective on Nextpower in a research note on Friday, June 26th. Mizuho lifted their price objective on shares of Nextpower from $130.00 to $142.00 and gave the stock a "neutral" rating in a report on Monday, June 8th. Wells Fargo & Company boosted their target price on shares of Nextpower from $143.00 to $151.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Finally, Guggenheim raised shares of Nextpower from a "neutral" rating to a "buy" rating and set a $125.00 target price on the stock in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $150.62.

Nextpower Trading Down 4.3%

Shares of Nextpower stock opened at $100.03 on Friday. The business's 50 day simple moving average is $120.70 and its 200-day simple moving average is $116.08. The stock has a market capitalization of $15.03 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 2.00 and a beta of 1.86. Nextpower Inc. has a twelve month low of $52.61 and a twelve month high of $163.13.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million for the quarter, compared to the consensus estimate 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. Sell-side analysts predict that Nextpower Inc. will post 3.73 earnings per share for the current 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.

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