Sei Investments Co. Buys 26,965 Shares of Nextpower Inc. $NXT

Key Points

• Sei Investments increased its Nextpower stake by 9.6% in the first quarter, buying 26,965 shares to reach 307,856 shares valued at approximately $37.1 million. Institutional investors collectively own 67.41% of the company.
• Nextpower exceeded quarterly expectations, reporting $1.05 EPS versus the $0.89 consensus and $880.52 million in revenue versus estimates of $826.26 million. The company issued fiscal 2027 EPS guidance of $4.21 to $4.59.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $150.62, although recent targets range from $118 to $164. Shares opened at $100.03, while insiders have sold $22.6 million worth of stock over the past 90 days.

Sei Investments Co. grew its stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 9.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 307,856 shares of the company's stock after buying an additional 26,965 shares during the period. Sei Investments Co. owned approximately 0.21% of Nextpower worth $37,111,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Nextpower by 19.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company's stock valued at $18,436,000 after acquiring an additional 71,842 shares during the period. M&T Bank Corp bought a new stake in shares of Nextpower in the 2nd quarter worth approximately $223,000. EverSource Wealth Advisors LLC lifted its position in shares of Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company's stock worth $61,000 after acquiring an additional 724 shares during the period. Cerity Partners LLC grew its holdings in shares of Nextpower by 154.0% during the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company's stock worth $1,008,000 after purchasing an additional 11,239 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company's stock worth $12,122,000 after purchasing an additional 59,573 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

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Nextpower Price Performance

Shares of NXT stock opened at $100.03 on Monday. The stock's fifty day simple moving average is $120.70 and its 200 day simple moving average is $116.27. Nextpower Inc. has a one year low of $52.61 and a one year high of $163.13. The firm has a market cap of $15.03 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 2.00 and a beta of 1.86.

Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. The firm had revenue of $880.52 million during the quarter, compared to analyst estimates 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. On average, research analysts anticipate that Nextpower Inc. will post 3.73 earnings per share for the current year.

Insider Buying and Selling at Nextpower

In related news, COO Nicholas Marco Miller sold 22,427 shares of Nextpower stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the completion of the transaction, the chief operating officer directly owned 186,194 shares of the company's stock, valued at $29,046,264. This trade represents a 10.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the sale, the chief executive officer directly owned 931,419 shares in the company, valued at $125,480,767.68. This represents a 2.72% 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 have sold a total of 168,574 shares of company stock worth $22,559,770 over the last ninety days. Company insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. KeyCorp upped their target price on Nextpower from $152.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. TD Cowen lowered their price target on shares of Nextpower from $135.00 to $118.00 and set a "hold" rating on the stock in a report on Monday, July 20th. Wall Street Zen lowered shares of Nextpower from a "buy" rating to a "hold" rating in a report on Monday, April 27th. Jefferies Financial Group set a $153.00 price objective on shares of Nextpower in a research note on Friday, June 26th. Finally, Wells Fargo & Company raised their price objective on shares of Nextpower from $143.00 to $151.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $150.62.

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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