Legal & General Group Plc Has $36.09 Million Stock Position in Nextpower Inc. $NXT

Key Points

• Legal & General Group Plc boosted its Nextpower stake by 4.6% in the fourth quarter, ending with 414,304 shares valued at about $36.09 million. Institutional ownership remains high, with hedge funds and other institutions holding 67.41% of the stock.
• Nextpower reported better-than-expected quarterly results, posting EPS of $1.05 versus the $0.89 estimate and revenue of $880.52 million above forecasts. The company also raised its FY 2027 guidance to 4.210-4.590 EPS.
• The company announced a definitive agreement to acquire Prevalon Energy, expanding into battery energy storage and AI data center infrastructure. Analysts have responded positively, with several raising price targets and the consensus rating staying at Moderate Buy.

Legal & General Group Plc increased its stake in Nextpower Inc. (NASDAQ:NXT - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 414,304 shares of the company's stock after acquiring an additional 18,380 shares during the quarter. Legal & General Group Plc owned about 0.28% of Nextpower worth $36,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC lifted its stake in shares of Nextpower by 4.1% in the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company's stock worth $280,000 after acquiring an additional 126 shares during the period. Allworth Financial LP lifted its stake in shares of Nextpower by 16.8% in the third quarter. Allworth Financial LP now owns 979 shares of the company's stock worth $72,000 after acquiring an additional 141 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Nextpower by 12.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company's stock worth $114,000 after acquiring an additional 143 shares during the period. IFP Advisors Inc lifted its stake in shares of Nextpower by 3.2% in the fourth quarter. IFP Advisors Inc now owns 5,097 shares of the company's stock worth $444,000 after acquiring an additional 159 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Nextpower by 15.9% in the third quarter. Fifth Third Bancorp now owns 1,264 shares of the company's stock worth $94,000 after acquiring an additional 173 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Stock Performance

Shares of NXT opened at $156.40 on Friday. Nextpower Inc. has a 52-week low of $51.69 and a 52-week high of $163.13. The business's 50 day moving average price is $121.89 and its two-hundred day moving average price is $108.44. The firm has a market cap of $23.22 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 3.90 and a beta of 1.60.

Nextpower (NASDAQ:NXT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The firm had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Research analysts predict that Nextpower Inc. will post 3.58 EPS for the current fiscal year.

Insider Transactions at Nextpower

In other news, insider Bruce Ledesma sold 3,248 shares of the company'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 transaction of $437,570.56. Following the transaction, the insider directly owned 246,130 shares of the company's stock, valued at $33,158,633.60. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, CEO Daniel S. Shugar sold 59,456 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $105.17, for a total value of $6,252,987.52. Following the transaction, the chief executive officer directly owned 746,339 shares in the company, valued at $78,492,472.63. The trade was a 7.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 240,995 shares of company stock valued at $28,661,778 over the last ninety days. Company insiders own 0.56% of the company's stock.

Nextpower News Roundup

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Nextpower announced a definitive agreement to acquire Prevalon Energy, a move that opens a new battery energy storage and AI data center infrastructure growth channel and could broaden its total addressable market. Article: Nextpower Announces Entry into Battery Energy Storage (BESS) and AI Data Center Markets...
• Positive Sentiment: The company also raised its fiscal 2027 outlook, reinforcing confidence that the acquisition and related market expansion could accelerate future revenue and EBITDA growth. Article: A Green Energy Revival Is Under Way. Nextpower Is Leading the Charge.
• Positive Sentiment: Several analysts turned more constructive, with multiple firms raising price targets and reiterating overweight/buy ratings, including JPMorgan, KeyCorp, BNP Paribas Exane, and Wells Fargo. Article: Analyst price target updates on Nextpower
• Neutral Sentiment: Insider sales by executives were disclosed, but they were described as pre-arranged 10b5-1 transactions and tax-withholding sales tied to equity vesting, which makes them less likely to be read as a negative operating signal. Article: Daniel Shugar Sells 26,077 Shares of Nextpower NASDAQ: NXT Stock

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NXT shares. Weiss Ratings raised Nextpower from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 20th. KeyCorp boosted their price target on Nextpower from $152.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday. TD Cowen boosted their price target on Nextpower from $105.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, May 13th. BNP Paribas Exane boosted their price target on Nextpower from $177.00 to $182.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Barclays boosted their price target on Nextpower from $123.00 to $142.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Nextpower has an average rating of "Moderate Buy" and a consensus target price of $146.39.

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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