KBC Group NV Has $14.94 Million Stake in Nextpower Inc. $NXT

Key Points

• KBC Group NV boosted its Nextpower stake by 30.8% in the first quarter, ending with 123,892 shares valued at about $14.94 million.
• Nextpower reported strong quarterly results, posting EPS of $1.05 versus the $0.89 estimate and revenue of $880.52 million, both ahead of expectations.
• Despite insider sales and mixed analyst moves, Wall Street remains constructive on the stock, with a Moderate Buy consensus and a consensus price target of $150.62.

KBC Group NV increased its stake in Nextpower Inc. (NASDAQ:NXT - Free Report) by 30.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,892 shares of the company's stock after purchasing an additional 29,167 shares during the period. KBC Group NV owned approximately 0.08% of Nextpower worth $14,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NXT. Norges Bank bought a new stake in shares of Nextpower in the fourth quarter valued at about $170,918,000. Amundi grew its holdings in shares of Nextpower by 156.1% during the third quarter. Amundi now owns 2,111,628 shares of the company's stock worth $161,600,000 after buying an additional 1,287,071 shares in the last quarter. Electron Capital Partners LLC raised its position in Nextpower by 2,017.7% in the 3rd quarter. Electron Capital Partners LLC now owns 566,415 shares of the company's stock valued at $41,909,000 after buying an additional 539,668 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Nextpower by 142.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 848,110 shares of the company's stock valued at $73,879,000 after buying an additional 498,110 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Nextpower by 342,159.2% in the 4th quarter. Assetmark Inc. now owns 427,824 shares of the company's stock valued at $37,268,000 after acquiring an additional 427,699 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $105.67 on Wednesday. The stock has a 50 day moving average price of $122.98 and a 200 day moving average price of $115.99. The stock has a market capitalization of $15.88 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.86. Nextpower Inc. has a 52 week low of $52.61 and a 52 week high of $163.13.

Nextpower (NASDAQ:NXT - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The business had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, research analysts forecast that Nextpower Inc. will post 3.73 EPS for the current year.

Insider Buying and Selling

In related news, CFO Charles D. Boynton sold 4,500 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total value of $683,055.00. Following the completion of the sale, the chief financial officer directly owned 358,500 shares in the company, valued at approximately $54,416,715. This trade represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total value of $3,120,740.52. Following the transaction, the chief operating officer owned 221,533 shares of the company's stock, valued at $28,205,581.56. The trade was a 9.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 168,574 shares of company stock worth $22,559,770. Corporate insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NXT shares. Barclays upped their price target on Nextpower from $142.00 to $147.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Susquehanna cut their price objective on shares of Nextpower from $180.00 to $168.00 and set a "positive" rating on the stock in a research report on Friday, July 10th. Wolfe Research reissued an "outperform" rating and issued a $160.00 price objective on shares of Nextpower in a research report on Friday, May 29th. Royal Bank Of Canada set a $179.00 target price on shares of Nextpower in a report on Tuesday. Finally, BNP Paribas Exane raised their target price on shares of Nextpower from $177.00 to $182.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Nextpower presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.62.

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.

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