Nextpower Inc. $NXT Shares Sold by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors reduced its Nextpower stake by 12.3% in the first quarter, selling 28,030 shares and ending with 198,949 shares valued at about $24 million.
• Wall Street remains broadly bullish on Nextpower, with 20 analysts rating it a Buy and five a Hold; the consensus price target is $147.52, while several firms recently raised their targets as high as $180.
• Nextpower beat earnings and revenue expectations in its latest quarter, reporting EPS of $1.05 versus $0.89 expected and revenue of $880.5 million versus $826.3 million anticipated.

Fort Washington Investment Advisors Inc. OH cut its stake in Nextpower Inc. (NASDAQ:NXT - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 198,949 shares of the company's stock after selling 28,030 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.13% of Nextpower worth $23,983,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc grew its position in shares of Nextpower by 4.6% during the fourth quarter. Legal & General Group Plc now owns 414,304 shares of the company's stock worth $36,090,000 after buying an additional 18,380 shares in the last quarter. Andrew Hill Investment Advisors Inc. raised its holdings in Nextpower by 31.2% in the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company's stock valued at $6,100,000 after acquiring an additional 16,666 shares in the last quarter. Assetmark Inc. lifted its stake in Nextpower by 342,159.2% in the fourth quarter. Assetmark Inc. now owns 427,824 shares of the company's stock worth $37,268,000 after acquiring an additional 427,699 shares during the last quarter. American Century Companies Inc. lifted its stake in Nextpower by 23.4% in the third quarter. American Century Companies Inc. now owns 675,886 shares of the company's stock worth $50,009,000 after acquiring an additional 128,296 shares during the last quarter. Finally, Granahan Investment Management LLC grew its holdings in Nextpower by 219.8% during the 3rd quarter. Granahan Investment Management LLC now owns 415,166 shares of the company's stock worth $30,718,000 after acquiring an additional 285,362 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NXT shares. Northland Securities increased their price objective on shares of Nextpower from $148.00 to $162.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. Loop Capital set a $135.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. Barclays boosted their target price on shares of Nextpower from $123.00 to $142.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $140.00 target price on shares of Nextpower in a report on Thursday, May 14th. Finally, Susquehanna lifted their price target on Nextpower from $161.00 to $180.00 and gave the stock a "positive" rating in a report on Monday, June 1st. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Nextpower presently has an average rating of "Moderate Buy" and a consensus price target of $147.52.

Nextpower Stock Performance

NXT stock opened at $106.95 on Monday. The stock has a market cap of $16.07 billion, a P/E ratio of 27.92, a PEG ratio of 2.52 and a beta of 1.73. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13. The company's 50 day moving average is $126.10 and its two-hundred day moving average is $113.58.

Nextpower (NASDAQ:NXT - Get Free Report) last issued its earnings results 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. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The business had revenue of $880.52 million during the quarter, compared to analysts' expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, equities research analysts predict that Nextpower Inc. will post 3.71 earnings per share for the current year.

Insider Buying and Selling

In other Nextpower news, insider Bruce Ledesma sold 3,248 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the transaction, the insider owned 246,130 shares of the company's stock, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $134.72, for a total value of $3,513,093.44. Following the sale, the chief executive officer owned 931,419 shares in the company, valued at $125,480,767.68. This trade represents a 2.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 168,574 shares of company stock valued at $22,559,770 over the last ninety days. Company 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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