Nextpower Inc. $NXT Stock: Fort Washington Investment Advisors Inc. OH Grows Stake

Key Points

• Fort Washington Investment Advisors increased its Nextpower stake by 92.3% in the third quarter, owning 415,655 shares valued at approximately $32.4 million. Institutional investors and hedge funds collectively own 67.41% of the company.
• Company insiders sold 100,431 shares worth about $10.0 million over the last quarter, including sales by the CEO and CFO under pre-arranged Rule 10b5-1 trading plans.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $142.08. Nextpower recently reported quarterly EPS of $1.20, exceeding the $1.05 consensus estimate.

Fort Washington Investment Advisors Inc. OH lifted its stake in Nextpower Inc. (NASDAQ:NXT - Free Report) by 92.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 415,655 shares of the company's stock after acquiring an additional 199,544 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.27% of Nextpower worth $32,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NXT. Perpetual Ltd increased its stake in shares of Nextpower by 16.2% during the third quarter. Perpetual Ltd now owns 194,578 shares of the company's stock valued at $15,163,000 after acquiring an additional 27,098 shares during the period. Green Alpha Advisors LLC raised its holdings in Nextpower by 4.1% during the third quarter. Green Alpha Advisors LLC now owns 24,633 shares of the company's stock worth $1,920,000 after purchasing an additional 963 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Nextpower by 11.6% during the third quarter. Farther Finance Advisors LLC now owns 7,758 shares of the company's stock worth $605,000 after purchasing an additional 805 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in Nextpower by 104.8% during the third quarter. Central Pacific Bank Trust Division now owns 2,677 shares of the company's stock worth $209,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Private Client Services LLC raised its holdings in Nextpower by 7.7% during the third quarter. Private Client Services LLC now owns 8,810 shares of the company's stock worth $687,000 after purchasing an additional 630 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 67,636 shares of Nextpower stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $103.07, for a total value of $6,971,242.52. Following the transaction, the chief executive officer owned 871,131 shares in the company, valued at approximately $89,787,472.17. The trade was a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $79.98, for a total transaction of $359,910.00. Following the completion of the transaction, the chief financial officer owned 354,000 shares in the company, valued at approximately $28,312,920. This trade represents a 1.26% 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. Over the last quarter, insiders sold 100,431 shares of company stock valued at $10,039,748. Corporate insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NXT shares. The Goldman Sachs Group restated a "buy" rating and issued a $168.00 target price on shares of Nextpower in a research report on Wednesday, July 1st. Zacks Research cut Nextpower from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. TD Cowen upgraded Nextpower to a "hold" rating in a research report on Monday, October 5th. UBS Group reissued a "buy" rating and issued a $160.00 price objective on shares of Nextpower in a research note on Monday, August 3rd. Finally, Jefferies Financial Group restated a "buy" rating and issued a $131.00 price objective on shares of Nextpower in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $142.08.

Nextpower Trading Up 1.1%

NASDAQ:NXT opened at $83.45 on Friday. Nextpower Inc. has a twelve month low of $76.71 and a twelve month high of $163.13. The company has a 50-day moving average of $86.44 and a 200-day moving average of $106.64. The firm has a market cap of $12.66 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 1.99 and a beta of 1.94.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.15. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. The company had revenue of $935.17 million for the quarter, compared to analysts' expectations of $935.39 million. On average, research analysts forecast that Nextpower Inc. will post 3.80 earnings per share for the current year.

Nextpower Profile

Nextracker Inc NASDAQ: NXT is a renewable energy technology company that designs and supplies intelligent solar tracking systems for utility-scale and large distributed-generation photovoltaic projects. Its systems help solar panels follow the sun throughout the day, improving energy production and supporting the development of large solar power facilities.

The company's product portfolio includes solar tracker hardware, structural components, controls, and software designed to optimize project performance.

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