NFJ Investment Group LLC Sells 21,757 Shares of Nextpower Inc. $NXT

Key Points

• NFJ Investment Group cut its Nextpower stake by 40.9% in Q4, selling 21,757 shares and leaving it with 31,484 shares valued at about $2.74 million.
• Nextpower’s latest earnings beat expectations, with EPS of $1.05 versus $0.89 expected and revenue of $880.5 million above estimates.
• Analyst sentiment remains constructive: the stock has a Moderate Buy consensus with an average target price of $147.77, while multiple firms recently raised or reiterated targets.

NFJ Investment Group LLC lessened its holdings in Nextpower Inc. (NASDAQ:NXT - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,484 shares of the company's stock after selling 21,757 shares during the period. NFJ Investment Group LLC's holdings in Nextpower were worth $2,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Horizon Investment Services LLC boosted its stake in shares of Nextpower by 124.8% during the fourth quarter. Horizon Investment Services LLC now owns 11,569 shares of the company's stock valued at $1,008,000 after purchasing an additional 6,423 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Nextpower during the fourth quarter valued at about $94,000. FORA Capital LLC boosted its stake in shares of Nextpower by 282.6% during the fourth quarter. FORA Capital LLC now owns 12,794 shares of the company's stock valued at $1,114,000 after purchasing an additional 9,450 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Nextpower during the fourth quarter valued at about $10,308,000. Finally, Bridgewater Associates LP boosted its stake in shares of Nextpower by 184.7% during the fourth quarter. Bridgewater Associates LP now owns 254,733 shares of the company's stock valued at $22,190,000 after purchasing an additional 165,247 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Mizuho lifted their price target on Nextpower from $130.00 to $142.00 and gave the company a "neutral" rating in a research note on Monday, June 8th. Wall Street Zen lowered Nextpower from a "buy" rating to a "hold" rating in a research note on Monday, April 27th. The Goldman Sachs Group set a $140.00 price objective on Nextpower and gave the stock a "buy" rating in a research report on Tuesday, April 14th. BMO Capital Markets raised their price objective on Nextpower from $113.00 to $125.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group raised their price objective on Nextpower from $145.00 to $159.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $147.77.

Nextpower Price Performance

Shares of NXT opened at $121.88 on Monday. Nextpower Inc. has a 1 year low of $51.69 and a 1 year high of $163.13. The company has a market capitalization of $18.31 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.89 and a beta of 1.73. The business has a 50-day moving average of $124.40 and a 200-day moving average of $111.34.

Nextpower (NASDAQ:NXT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.16. The company had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, sell-side analysts anticipate that Nextpower Inc. will post 3.69 EPS for the current year.

Insiders Place Their Bets

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 931,419 shares in the company, valued at approximately $125,480,767.68. The trade was a 2.72% 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, insider Bruce Ledesma sold 3,248 shares of Nextpower stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the sale, the insider owned 246,130 shares of the company's stock, valued at approximately $33,158,633.60. The trade was a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 sold a total of 168,574 shares of company stock valued at $22,559,770 in the last 90 days. Company 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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