North Point Portfolio Managers Corp OH Has $17.75 Million Holdings in Nextpower Inc. $NXT

Key Points

• North Point Portfolio Managers cut its Nextpower stake by 12.8% in the first quarter, selling 21,581 shares and leaving it with 147,211 shares worth about $17.75 million. The position still represents roughly 3.2% of the firm’s portfolio.
• Wall Street remains broadly bullish on Nextpower, with 20 Buy ratings and 5 Hold ratings. The stock’s consensus rating is Moderate Buy, and the average price target is $147.52.
• Nextpower reported better-than-expected quarterly results, posting $1.05 EPS versus $0.89 expected and revenue of $880.52 million versus $826.26 million estimated. The company also said it is targeting FY 2027 EPS guidance of 4.210–4.590.

North Point Portfolio Managers Corp OH lessened its holdings in Nextpower Inc. (NASDAQ:NXT - Free Report) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,211 shares of the company's stock after selling 21,581 shares during the quarter. Nextpower makes up about 3.2% of North Point Portfolio Managers Corp OH's investment portfolio, making the stock its 9th largest holding. North Point Portfolio Managers Corp OH owned about 0.10% of Nextpower worth $17,746,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in shares of Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company's stock worth $26,000 after buying an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Nextpower by 268.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company's stock valued at $28,000 after buying an additional 223 shares during the last quarter. Huntington National Bank raised its stake in Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company's stock worth $33,000 after acquiring an additional 317 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in Nextpower during the third quarter worth about $36,000. Finally, Baillie Gifford & Co. lifted its holdings in Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company's stock worth $37,000 after acquiring an additional 182 shares during the last quarter. Institutional investors own 67.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NXT shares. The Goldman Sachs Group set a $140.00 target price on Nextpower and gave the company a "buy" rating in a research note on Tuesday, April 14th. Robert W. Baird raised their price target on Nextpower from $133.00 to $156.00 and gave the stock an "outperform" rating in a report on Wednesday, May 13th. Susquehanna boosted their price objective on Nextpower from $161.00 to $180.00 and gave the company a "positive" rating in a research report on Monday, June 1st. Needham & Company LLC restated a "buy" rating and set a $149.00 price objective on shares of Nextpower in a research note on Friday, May 29th. Finally, BNP Paribas Exane upped their price objective on Nextpower from $177.00 to $182.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Twenty 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, Nextpower has a consensus rating of "Moderate Buy" and an average price target of $147.52.

Nextpower Stock Up 7.7%

Nextpower stock opened at $119.14 on Wednesday. Nextpower Inc. has a 52-week low of $52.61 and a 52-week high of $163.13. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 2.60 and a beta of 1.73. The firm has a 50-day moving average price of $126.33 and a two-hundred day moving average price of $113.94.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. The company had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Research analysts expect that Nextpower Inc. will post 3.71 earnings per share for the current year.

Insider Transactions at Nextpower

In other news, President Howard Wenger sold 62,670 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the transaction, the president directly owned 426,467 shares of the company's stock, valued at approximately $55,547,326.75. This trade represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the sale, the chief financial officer owned 358,500 shares in the company, valued at approximately $54,416,715. This represents a 1.24% 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. Insiders sold 168,574 shares of company stock worth $22,559,770 over the last quarter. 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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