Nextpower Inc. $NXT Shares Sold by Fieldview Capital Management LLC

Fieldview Capital Management LLC trimmed its holdings in Nextpower Inc. (NASDAQ:NXT) by 73.8% during the third quarter, HoldingsChannel reports. The firm owned 19,851 shares of the company’s stock after selling 55,782 shares during the period. Fieldview Capital Management LLC’s holdings in Nextpower were worth $1,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Nextpower by 2.0% in the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock valued at $1,048,279,000 after purchasing an additional 283,981 shares during the last quarter. Primecap Management Co. CA boosted its stake in Nextpower by 1.1% during the second quarter. Primecap Management Co. CA now owns 7,675,821 shares of the company’s stock worth $417,334,000 after buying an additional 83,227 shares during the last quarter. Encompass Capital Advisors LLC boosted its stake in Nextpower by 11.0% during the second quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company’s stock worth $158,748,000 after buying an additional 289,663 shares during the last quarter. Norges Bank purchased a new stake in Nextpower in the 2nd quarter valued at $140,772,000. Finally, Dimensional Fund Advisors LP grew its holdings in Nextpower by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,523 shares of the company’s stock valued at $174,459,000 after buying an additional 67,362 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nextpower news, CAO David P. Bennett sold 33,725 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the completion of the transaction, the chief accounting officer owned 130,967 shares in the company, valued at $11,535,573.36. The trade was a 20.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the completion of the sale, the chief executive officer directly owned 746,339 shares in the company, valued at approximately $78,492,472.63. This represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 138,073 shares of company stock worth $13,847,023 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Nextpower Price Performance

NXT stock opened at $108.13 on Tuesday. The business’s 50-day moving average is $106.66 and its two-hundred day moving average is $92.15. The firm has a market capitalization of $16.06 billion, a P/E ratio of 27.65, a P/E/G ratio of 2.98 and a beta of 2.41. Nextpower Inc. has a 1 year low of $36.06 and a 1 year high of $131.59.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $909.35 million during the quarter, compared to the consensus estimate of $812.43 million. Nextpower had a return on equity of 32.01% and a net margin of 16.43%. On average, analysts expect that Nextpower Inc. will post 3.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NXT. Robert W. Baird set a $126.00 price target on Nextpower in a report on Wednesday, January 28th. Wells Fargo & Company upped their price objective on shares of Nextpower from $109.00 to $127.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Bank of America raised their price objective on shares of Nextpower from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $119.00 target price on shares of Nextpower in a research note on Thursday, January 29th. Finally, KeyCorp upgraded shares of Nextpower from a “sector weight” rating to an “overweight” rating and set a $142.00 target price on the stock in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Nextpower has an average rating of “Moderate Buy” and an average price target of $108.32.

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.