Earnest Partners LLC Sells 25,298 Shares of Nextpower Inc. $NXT

Earnest Partners LLC cut its position in shares of Nextpower Inc. (NASDAQ:NXT) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,278,334 shares of the company’s stock after selling 25,298 shares during the quarter. Earnest Partners LLC owned about 0.86% of Nextpower worth $94,584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Nextpower during the 3rd quarter valued at $36,000. BOKF NA increased its stake in shares of Nextpower by 1,135.7% in the 3rd quarter. BOKF NA now owns 519 shares of the company’s stock worth $38,000 after acquiring an additional 477 shares in the last quarter. MAI Capital Management boosted its stake in Nextpower by 309.4% during the second quarter. MAI Capital Management now owns 831 shares of the company’s stock worth $45,000 after acquiring an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Nextpower by 179.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after acquiring an additional 724 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Nextpower by 15.9% during the third quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock worth $94,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Nextpower from $109.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Barclays set a $115.00 price objective on Nextpower in a research report on Thursday, January 29th. KeyCorp reiterated an “overweight” rating on shares of Nextpower in a research note on Friday. UBS Group increased their target price on Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Bank of America raised their price target on Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Nextpower currently has a consensus rating of “Moderate Buy” and an average target price of $110.01.

Nextpower Trading Up 3.2%

Nextpower stock opened at $119.64 on Friday. Nextpower Inc. has a 12 month low of $36.06 and a 12 month high of $131.59. The stock has a fifty day simple moving average of $108.90 and a two-hundred day simple moving average of $93.33. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 2.84 and a beta of 2.41.

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

Insider Activity

In other news, CEO Daniel S. Shugar sold 59,456 shares of the business’s 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 transaction, the chief executive officer directly owned 746,339 shares of the company’s stock, valued at $78,492,472.63. The trade was a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William D. Watkins sold 5,000 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $118.57, for a total transaction of $592,850.00. Following the transaction, the director owned 11,777 shares in the company, valued at approximately $1,396,398.89. This trade represents a 29.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 104,348 shares of company stock worth $10,876,525 in the last 90 days. Company 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.