Nextpower Inc. $NXT Stock: Robeco Schweiz AG Grows Stake

Key Points

• Robeco Schweiz AG nearly doubled its Nextpower stake in the third quarter, adding 855,460 shares to own 1.72 million shares valued at approximately $134.1 million. Institutional investors collectively hold 67.41% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $139.77, despite several recent target-price reductions.
• Nextpower shares opened at $78.89, near the lower end of their 12-month range of $75.40 to $163.13. The company’s latest quarterly results exceeded earnings expectations, reporting $1.20 in adjusted earnings per share versus the $1.05 consensus estimate.

Robeco Schweiz AG boosted its holdings in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 98.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,721,087 shares of the company's stock after buying an additional 855,460 shares during the quarter. Nextpower makes up approximately 2.5% of Robeco Schweiz AG's investment portfolio, making the stock its 9th biggest holding. Robeco Schweiz AG owned about 1.13% of Nextpower worth $134,124,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fundsmith LLP purchased a new stake in Nextpower during the second quarter worth $340,275,000. Bank of America Corp DE increased its holdings in shares of Nextpower by 34.6% in the 1st quarter. Bank of America Corp DE now owns 1,568,235 shares of the company's stock valued at $189,051,000 after acquiring an additional 402,770 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Nextpower by 134.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company's stock valued at $164,488,000 after acquiring an additional 780,958 shares during the period. Assetmark Inc. increased its holdings in shares of Nextpower by 96.6% in the 1st quarter. Assetmark Inc. now owns 840,966 shares of the company's stock valued at $101,378,000 after acquiring an additional 413,142 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in shares of Nextpower by 20.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 600,671 shares of the company's stock worth $71,564,000 after acquiring an additional 100,186 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NXT. Barclays dropped their price objective on Nextpower from $147.00 to $146.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 13th. Guggenheim upgraded Nextpower from a "neutral" rating to a "buy" rating and set a $125.00 target price on the stock in a research note on Wednesday, July 15th. JPMorgan Chase & Co. reduced their target price on shares of Nextpower from $152.00 to $136.00 and set an "overweight" rating for the company in a report on Monday, October 19th. Jefferies Financial Group set a $115.00 price target on shares of Nextpower in a research report on Friday, October 16th. Finally, BMO Capital Markets decreased their price target on shares of Nextpower from $132.00 to $114.00 and set an "outperform" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.77.

Nextpower Trading Up 1.6%

Shares of NXT stock opened at $78.89 on Friday. Nextpower Inc. has a 12-month low of $75.40 and a 12-month high of $163.13. The business's fifty day simple moving average is $83.56 and its 200-day simple moving average is $105.17. The company has a market cap of $11.97 billion, a PE ratio of 20.44, a PEG ratio of 1.90 and a beta of 1.94.

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

Insider Buying and Selling

In other news, Director Julia Blunden sold 3,692 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $84.10, for a total transaction of $310,497.20. Following the sale, the director owned 2,742 shares in the company, valued at approximately $230,602.20. The trade was a 57.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brandi Thomas sold 7,415 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total value of $676,618.75. Following the sale, the director owned 7,914 shares in the company, valued at $722,152.50. The trade was a 48.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 100,431 shares of company stock valued at $10,039,748 in the last 90 days. 0.84% of the stock is owned by insiders.

Nextpower Profile

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company's product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.

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