Nextpower Inc. $NXT Holdings Decreased by Erste Asset Management GmbH

Key Points

• Erste Asset Management trimmed its Nextpower stake by 2.8% in the fourth quarter, though it still held 719,647 shares worth about $64.9 million. Institutional ownership remains high, with about 67.41% of the stock held by institutions.
• Nextpower posted better-than-expected quarterly results, reporting EPS of $1.05 versus the $0.89 consensus estimate and revenue of $880.52 million versus $826.26 million expected. The company also guided FY 2027 EPS to 4.210-4.590.
• Insiders sold shares in May, including President Howard Wenger and CEO Daniel S. Shugar, both under pre-arranged Rule 10b5-1 plans. Despite the sales, analysts remain broadly positive, with 20 Buy ratings and an average target price of $147.27.

Erste Asset Management GmbH reduced its stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 719,647 shares of the company's stock after selling 20,749 shares during the quarter. Erste Asset Management GmbH owned about 0.48% of Nextpower worth $64,945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company's stock valued at $28,000 after purchasing an additional 223 shares in the last quarter. Huntington National Bank raised its position in Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company's stock worth $33,000 after acquiring an additional 317 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new stake in Nextpower in the third quarter worth about $36,000. Baillie Gifford & Co. raised its position in Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company's stock worth $37,000 after acquiring an additional 182 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Nextpower by 511.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company's stock worth $37,000 after acquiring an additional 414 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextpower Stock Performance

NASDAQ NXT opened at $131.57 on Monday. The stock's 50-day moving average price is $124.30 and its two-hundred day moving average price is $110.23. The company has a market cap of $19.77 billion, a PE ratio of 34.35, a PEG ratio of 3.12 and a beta of 1.73. Nextpower Inc. has a 1 year low of $51.69 and a 1 year high of $163.13.

Nextpower (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings data 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 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. Research analysts forecast that Nextpower Inc. will post 3.69 EPS for the current fiscal year.

Insider Activity

In other Nextpower news, President Howard Wenger sold 62,670 shares of the business's stock in a transaction dated 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 sale, the president owned 426,467 shares in the company, valued at approximately $55,547,326.75. The trade was a 12.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 26,077 shares of Nextpower stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the transaction, the chief executive officer directly owned 931,419 shares in the company, valued at approximately $125,480,767.68. This trade represents a 2.72% decrease in their position. 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. In the last quarter, insiders have sold 168,574 shares of company stock worth $22,559,770. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on NXT. BNP Paribas Exane boosted their price target on shares of Nextpower from $177.00 to $182.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $140.00 price target on shares of Nextpower in a research report on Thursday, May 14th. Citigroup boosted their price target on shares of Nextpower from $114.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of Nextpower from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 20th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $160.00 price target on shares of Nextpower in a research report on Friday, May 29th. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Nextpower has an average rating of "Moderate Buy" and an average target price of $147.27.

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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