Nextpower Inc. $NXT Shares Bought by Reynders McVeigh Capital Management LLC

Key Points

• Reynders McVeigh Capital Management increased its stake in Nextpower (NASDAQ: NXT) by 10.9% in Q4 to 129,867 shares—about 0.09% of the company—worth roughly $11.31 million, and institutional investors now own 67.41% of the stock.
• Wall Street consensus is a Moderate Buy with an average target of $117.79, and several firms (including Goldman Sachs, GLJ, UBS and Deutsche Bank) have recent buy ratings with targets up to about $147.
• Insider activity: CEO Daniel S. Shugar sold 59,456 shares on March 9 for approximately $6.25 million, trimming his holding by about 7.38%.

Reynders McVeigh Capital Management LLC lifted its holdings in Nextpower Inc. (NASDAQ:NXT - Free Report) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,867 shares of the company's stock after acquiring an additional 12,800 shares during the period. Reynders McVeigh Capital Management LLC owned approximately 0.09% of Nextpower worth $11,313,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Signaturefd LLC increased its position 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 in the last quarter. Allworth Financial LP grew its holdings in Nextpower by 16.8% during the 3rd quarter. Allworth Financial LP now owns 979 shares of the company's stock valued at $72,000 after purchasing an additional 141 shares in the last quarter. Fifth Third Bancorp grew its holdings in Nextpower by 15.9% during the 3rd quarter. Fifth Third Bancorp now owns 1,264 shares of the company's stock valued at $94,000 after purchasing an additional 173 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company's stock valued at $37,000 after purchasing an additional 182 shares in the last quarter. Finally, CWM LLC grew its holdings in Nextpower by 3.2% during the 4th quarter. CWM LLC now owns 5,978 shares of the company's stock valued at $521,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NXT. The Goldman Sachs Group set a $140.00 price target on shares of Nextpower and gave the company a "buy" rating in a report on Tuesday, April 14th. Glj Research restated a "buy" rating and issued a $147.33 price target on shares of Nextpower in a research report on Monday, March 16th. UBS Group raised their price target on shares of Nextpower from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft set a $129.00 price objective on shares of Nextpower and gave the company a "buy" rating in a research report on Thursday, April 9th. Finally, Roth Mkm reiterated a "buy" rating and issued a $130.00 price objective on shares of Nextpower in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Nextpower has a consensus rating of "Moderate Buy" and an average target price of $117.79.

Nextpower Stock Performance

Nextpower stock opened at $119.93 on Monday. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 5.70 and a beta of 1.60. The company's 50-day moving average price is $114.44 and its two-hundred day moving average price is $103.89. Nextpower Inc. has a 52 week low of $40.85 and a 52 week high of $131.72.

Insider Buying and Selling

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the transaction, the chief executive officer owned 746,339 shares of the company's stock, valued at approximately $78,492,472.63. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.56% of the company's stock.

Nextpower 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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