Nextpower Inc. $NXT is Andrew Hill Investment Advisors Inc.'s 8th Largest Position

Key Points

• Andrew Hill Investment Advisors Inc. raised its stake in Nextpower by 31.2% in Q4 to 70,025 shares — a $6.1M position that represents about 4.6% of the firm's portfolio and is its 8th-largest holding.
• Nextpower beat quarterly estimates with EPS of $1.10 (vs. $0.93) and revenue of $909.35M (vs. $812.43M); analysts have a consensus rating of Moderate Buy and a $113.84 price target while the stock trades near $118, close to its 52-week high.
• Insiders sold roughly 104,348 shares (about $10.9M) over the last quarter — including the CEO's sale of 59,456 shares — leaving insiders with just 0.56% ownership.

Andrew Hill Investment Advisors Inc. lifted its holdings in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 31.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,025 shares of the company's stock after purchasing an additional 16,666 shares during the quarter. Nextpower comprises approximately 4.6% of Andrew Hill Investment Advisors Inc.'s investment portfolio, making the stock its 8th biggest position. Andrew Hill Investment Advisors Inc.'s holdings in Nextpower were worth $6,100,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Nextpower by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company's stock valued at $1,048,279,000 after acquiring an additional 283,981 shares during the period. State Street Corp raised its position in shares of Nextpower by 0.6% during the 3rd quarter. State Street Corp now owns 5,391,696 shares of the company's stock worth $398,932,000 after acquiring an additional 31,689 shares in the last quarter. Invesco Ltd. raised its position in shares of Nextpower by 9.9% during the 3rd quarter. Invesco Ltd. now owns 2,725,449 shares of the company's stock worth $201,656,000 after acquiring an additional 245,412 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Nextpower by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,523 shares of the company's stock worth $174,459,000 after acquiring an additional 67,362 shares in the last quarter. Finally, Amundi raised its position in shares of Nextpower by 156.1% during the 3rd quarter. Amundi now owns 2,111,628 shares of the company's stock worth $161,600,000 after acquiring an additional 1,287,071 shares in the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Mizuho set a $81.00 price target on Nextpower in a research report on Friday, January 23rd. Wall Street Zen lowered Nextpower from a "buy" rating to a "hold" rating in a report on Saturday. Barclays boosted their target price on Nextpower from $115.00 to $123.00 and gave the company an "overweight" rating in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft set a $129.00 target price on Nextpower and gave the company a "buy" rating in a report on Thursday. Finally, Needham & Company LLC lifted their price target on Nextpower from $103.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Nextpower currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.84.

Insider Buying and Selling at Nextpower

In related news, Director William D. Watkins sold 5,000 shares of the company's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director directly owned 11,777 shares in the company, valued at approximately $1,396,398.89. This represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Daniel S. Shugar sold 59,456 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the transaction, the chief executive officer owned 746,339 shares of the company's stock, valued at $78,492,472.63. The trade was a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 104,348 shares of company stock valued at $10,876,525 over the last quarter. Insiders own 0.56% of the company's stock.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $117.97 on Monday. Nextpower Inc. has a 52-week low of $36.78 and a 52-week high of $131.72. The stock's fifty day simple moving average is $115.53 and its 200-day simple moving average is $100.37. The company has a market capitalization of $17.52 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.71 and a beta of 2.02.

Nextpower (NASDAQ:NXT - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.17. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The business had revenue of $909.35 million for the quarter, compared to the consensus estimate of $812.43 million. On average, sell-side analysts anticipate that Nextpower Inc. will post 3.29 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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