Nextpower Inc. $NXT Shares Acquired by Strs Ohio

Key Points

• Strs Ohio increased its Nextpower stake by 31.7% in Q4 to 144,900 shares (about $12.62M), representing roughly 0.10% of the company, while institutional investors as a whole own about 67.41% of the stock.
• Several large institutions materially raised or initiated positions in Q3 — including Amundi (now 2,111,628 shares, $161.6M), William Blair (new ~$108.7M stake), Allianz and Electron Capital — signaling growing institutional interest.
• NXT trades near $116.93 with a market cap of $17.36B and an analyst consensus of “Moderate Buy” (average target $117.79); CEO Daniel S. Shugar sold 59,456 shares in March, cutting his ownership by 7.38%.

Strs Ohio lifted its position in Nextpower Inc. (NASDAQ:NXT - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,900 shares of the company's stock after purchasing an additional 34,900 shares during the quarter. Strs Ohio owned approximately 0.10% of Nextpower worth $12,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new stake in Nextpower in the 3rd quarter valued at $108,739,000. Amundi increased its stake in Nextpower by 156.1% in the third quarter. Amundi now owns 2,111,628 shares of the company's stock valued at $161,600,000 after purchasing an additional 1,287,071 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Nextpower by 938.0% in the third quarter. Allianz Asset Management GmbH now owns 794,538 shares of the company's stock valued at $58,788,000 after buying an additional 717,991 shares during the last quarter. Electron Capital Partners LLC raised its holdings in shares of Nextpower by 2,017.7% in the third quarter. Electron Capital Partners LLC now owns 566,415 shares of the company's stock valued at $41,909,000 after buying an additional 539,668 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Nextpower during the third quarter worth about $33,298,000. Hedge funds and other institutional investors own 67.41% of the company's stock.

Nextpower Trading Down 2.5%

Shares of NXT stock opened at $116.93 on Tuesday. The stock has a 50 day simple moving average of $114.44 and a 200-day simple moving average of $103.89. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 5.70 and a beta of 1.60. Nextpower Inc. has a 12-month low of $40.85 and a 12-month high of $131.72.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings restated a "buy (b-)" rating on shares of Nextpower in a research report on Friday, March 27th. Wells Fargo & Company lifted their target price on Nextpower from $109.00 to $127.00 and gave the company an "overweight" rating in a research note on Wednesday, January 28th. 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. BMO Capital Markets restated a "market perform" rating and set a $104.00 price target on shares of Nextpower in a research note on Wednesday, January 28th. Finally, Needham & Company LLC lifted their price objective on shares of Nextpower from $103.00 to $138.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $117.79.

Insiders Place Their Bets

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 746,339 shares in the company, valued at approximately $78,492,472.63. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

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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