Nextpower Inc. $NXT Shares Sold by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas cut its stake in Nextpower by 68.9% in Q4, selling 282,828 shares and retaining 127,609 shares worth $11,116,000.
• Corporate insiders sold a total of 104,348 shares (≈$10.88M) over the last three months, including CEO Daniel S. Shugar's sale of 59,456 shares.
• Nextpower beat Q4 expectations with EPS $1.10 (vs. $0.93) and revenue $909.35M (vs. $812.43M); analysts have a consensus rating of "Moderate Buy" and a $117.47 average price target.

Teacher Retirement System of Texas cut its stake in Nextpower Inc. (NASDAQ:NXT - Free Report) by 68.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,609 shares of the company's stock after selling 282,828 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.09% of Nextpower worth $11,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HB Wealth Management LLC purchased a new position in Nextpower in the 4th quarter valued at about $238,000. M&T Bank Corp lifted its stake in Nextpower by 148.3% in the 4th quarter. M&T Bank Corp now owns 10,626 shares of the company's stock valued at $926,000 after buying an additional 6,347 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Nextpower by 24.0% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 220,506 shares of the company's stock valued at $19,200,000 after buying an additional 42,748 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Nextpower by 8.5% in the 4th quarter. Evergreen Capital Management LLC now owns 9,528 shares of the company's stock valued at $830,000 after buying an additional 748 shares in the last quarter. Finally, PFG Advisors lifted its stake in Nextpower by 4.1% in the 4th quarter. PFG Advisors now owns 8,828 shares of the company's stock valued at $769,000 after buying an additional 345 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NXT has been the topic of a number of research reports. Mizuho set a $81.00 price target on shares of Nextpower in a research note on Friday, January 23rd. Glj Research reaffirmed a "buy" rating and issued a $147.33 price target on shares of Nextpower in a research note on Monday, March 16th. The Goldman Sachs Group set a $140.00 price target on shares of Nextpower and gave the company a "buy" rating in a research note on Tuesday, April 14th. TD Cowen raised their price target on shares of Nextpower from $88.00 to $105.00 and gave the company a "hold" rating in a research note on Wednesday, January 28th. Finally, Needham & Company LLC raised their price target on shares of Nextpower from $103.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Nextpower currently has an average rating of "Moderate Buy" and a consensus price target of $117.47.

Nextpower Price Performance

NXT opened at $121.41 on Friday. The company's 50 day simple moving average is $114.59 and its two-hundred day simple moving average is $102.61. Nextpower Inc. has a 1-year low of $37.16 and a 1-year high of $131.72. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 5.91 and a beta of 2.02.

Nextpower (NASDAQ:NXT - Get Free Report) last released its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The business had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. On average, equities analysts anticipate that Nextpower Inc. will post 3.72 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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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