Louisiana State Employees Retirement System Makes New Investment in Nextpower Inc. $NXT

Key Points

• Louisiana State Employees Retirement System disclosed a new first-quarter stake in Nextpower, buying 43,100 shares worth about $5.2 million. Several other institutional investors also added to or initiated positions, and institutions now own 67.41% of the stock.
• Nextpower shares were down 5.5% in the latest session, with the stock trading at $106.95 versus a 52-week range of $51.69 to $163.13. The company’s market cap is about $16.07 billion.
• The company recently reported better-than-expected quarterly results, posting EPS of $1.05 on revenue of $880.52 million. Analysts remain broadly positive, with 20 Buy ratings, five Holds, and an average price target of $147.52.

Louisiana State Employees Retirement System bought a new stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 43,100 shares of the company's stock, valued at approximately $5,196,000.

Several other large investors also recently modified their holdings of NXT. Kestra Private Wealth Services LLC raised its stake in Nextpower by 13.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 22,973 shares of the company's stock valued at $2,769,000 after acquiring an additional 2,774 shares during the period. Ritholtz Wealth Management bought a new position in shares of Nextpower in the first quarter worth $383,000. Blue Trust Inc. raised its position in shares of Nextpower by 64.4% in the first quarter. Blue Trust Inc. now owns 1,167 shares of the company's stock worth $141,000 after buying an additional 457 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Nextpower by 4.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,810 shares of the company's stock worth $459,000 after buying an additional 173 shares in the last quarter. Finally, OP Asset Management Ltd bought a new stake in Nextpower during the first quarter valued at $3,803,000. Hedge funds and other institutional investors own 67.41% of the company's stock.

Nextpower Stock Down 5.5%

NASDAQ NXT opened at $106.95 on Friday. The company has a 50-day simple moving average of $126.10 and a two-hundred day simple moving average of $113.41. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $163.13. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 2.66 and a beta of 1.73.

Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.89 by $0.16. The firm 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. Equities analysts expect that Nextpower Inc. will post 3.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NXT shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $140.00 target price on shares of Nextpower in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of Nextpower from a "buy" rating to a "hold" rating in a research note on Monday, April 27th. Loop Capital set a $135.00 price target on shares of Nextpower in a research note on Wednesday, May 13th. Robert W. Baird raised their price objective on shares of Nextpower from $133.00 to $156.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Finally, The Goldman Sachs Group set a $140.00 price objective on shares of Nextpower and gave the stock a "buy" rating in a report on Tuesday, April 14th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $147.52.

Insider Transactions at Nextpower

In related news, President Howard Wenger sold 62,670 shares of Nextpower stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total value 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. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing 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, COO Nicholas Marco Miller sold 22,427 shares of the company's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the sale, the chief operating officer owned 186,194 shares of the company's stock, valued at $29,046,264. This represents a 10.75% 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. In the last ninety days, insiders have sold 168,574 shares of company stock valued at $22,559,770. 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.

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