Nextpower Inc. $NXT Shares Acquired by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & Co. LLC boosted its Nextpower stake by 142.3% in the fourth quarter, buying 498,110 additional shares and ending with 848,110 shares worth about $73.9 million.
• Nextpower reported a strong latest quarter, posting EPS of $1.05 versus estimates of $0.89 and revenue of $880.5 million versus forecasts of $826.3 million. The company also gave FY2027 guidance of 4.210-4.590 EPS.
• Wall Street remains broadly positive on the stock, with 20 Buy ratings and a consensus “Moderate Buy” rating. The average price target stands at $147.77, while insiders recently sold shares in Rule 10b5-1 transactions tied to tax withholding.

Lord Abbett & CO. LLC raised its stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 142.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 848,110 shares of the company's stock after purchasing an additional 498,110 shares during the quarter. Lord Abbett & CO. LLC owned about 0.57% of Nextpower worth $73,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NXT. Jupiter Asset Management Ltd. increased its stake in shares of Nextpower by 0.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company's stock worth $2,326,000 after acquiring an additional 86 shares during the period. Signaturefd LLC increased 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 increased 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 increased 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. Finally, IFP Advisors Inc increased 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. Institutional investors and hedge funds own 67.41% of the company's stock.

Nextpower Stock Performance

NXT stock opened at $121.88 on Friday. The firm has a market cap of $18.31 billion, a PE ratio of 31.82, a P/E/G ratio of 2.84 and a beta of 1.73. The firm's fifty day moving average is $124.40 and its 200 day moving average is $111.17. Nextpower Inc. has a one year low of $51.69 and a one 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, beating the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Research analysts predict that Nextpower Inc. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Glj Research increased their price objective on shares of Nextpower from $147.00 to $149.44 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $140.00 price target on shares of Nextpower in a research report on Thursday, May 14th. Robert W. Baird raised their price target 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. BMO Capital Markets raised their price target on shares of Nextpower from $113.00 to $125.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Finally, Roth Mkm restated a "buy" rating and set a $155.00 price target on shares of Nextpower in a research report on Wednesday, May 13th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $147.77.

Insider Buying and Selling at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the transaction, the chief executive officer directly owned 931,419 shares of the company's stock, valued at $125,480,767.68. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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, President Howard Wenger sold 62,670 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the transaction, the president directly owned 426,467 shares in the company, valued at approximately $55,547,326.75. The trade was a 12.81% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders 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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