Livforsakringsbolaget Skandia Omsesidigt Raises Stock Holdings in Nextpower Inc. $NXT

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 23.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,534 shares of the company’s stock after buying an additional 11,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Nextpower were worth $4,403,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Natural Investments LLC raised its stake in shares of Nextpower by 0.9% in the 3rd quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock valued at $1,239,000 after acquiring an additional 155 shares during the period. Fifth Third Bancorp boosted its position in shares of Nextpower by 15.9% during the 3rd quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock worth $94,000 after purchasing an additional 173 shares during the period. Farther Finance Advisors LLC increased its holdings in Nextpower by 8.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock valued at $191,000 after purchasing an additional 198 shares during the last quarter. Redwood Investment Management LLC increased its holdings in Nextpower by 4.1% in the 2nd quarter. Redwood Investment Management LLC now owns 5,177 shares of the company’s stock valued at $281,000 after purchasing an additional 204 shares during the last quarter. Finally, Securian Asset Management Inc. raised its position in Nextpower by 2.1% in the third quarter. Securian Asset Management Inc. now owns 11,081 shares of the company’s stock valued at $820,000 after purchasing an additional 223 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextpower

In other news, Director William D. Watkins sold 5,000 shares of Nextpower stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel S. Shugar sold 59,456 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $105.17, for a total value of $6,252,987.52. Following the transaction, the chief executive officer directly owned 746,339 shares of the company’s stock, valued at approximately $78,492,472.63. This represents a 7.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,348 shares of company stock valued at $10,876,525 over the last three months. 0.56% of the stock is currently owned by insiders.

Nextpower Stock Up 3.2%

Shares of NXT stock opened at $121.84 on Wednesday. The firm has a 50 day moving average of $110.07 and a two-hundred day moving average of $94.25. The stock has a market capitalization of $18.09 billion, a PE ratio of 31.16, a P/E/G ratio of 2.81 and a beta of 2.41. Nextpower Inc. has a 52 week low of $36.06 and a 52 week high of $131.59.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NXT shares. Mizuho set a $81.00 price target on Nextpower in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nextpower in a research note on Monday, December 29th. TD Cowen boosted their price objective on Nextpower from $88.00 to $105.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Robert W. Baird set a $126.00 target price on Nextpower in a report on Wednesday, January 28th. Finally, Jefferies Financial Group raised their target price on Nextpower from $122.00 to $138.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.49.

Nextpower Company 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.