Prudential PLC Purchases 5,519 Shares of Nextpower Inc. $NXT

Prudential PLC grew its position in shares of Nextpower Inc. (NASDAQ:NXT) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,609 shares of the company’s stock after buying an additional 5,519 shares during the period. Prudential PLC’s holdings in Nextpower were worth $4,147,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NXT. Whittier Trust Co. of Nevada Inc. increased its position in Nextpower by 268.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 223 shares during the period. Huntington National Bank grew its holdings in shares of Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in shares of Nextpower in the third quarter worth $36,000. Baillie Gifford & Co. raised its stake in Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after purchasing an additional 182 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Nextpower by 511.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock valued at $37,000 after purchasing an additional 414 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

NXT has been the subject of a number of analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Nextpower in a research note on Friday, May 29th. UBS Group reaffirmed a “buy” rating and issued a $170.00 price target on shares of Nextpower in a research note on Friday, May 29th. Mizuho boosted their price target on Nextpower from $112.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Glj Research boosted their price target on Nextpower from $147.00 to $149.44 and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird boosted their price target on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.27.

Nextpower Stock Down 12.5%

NASDAQ:NXT opened at $131.57 on Friday. The stock’s 50-day simple moving average is $124.30 and its 200 day simple moving average is $110.08. The firm has a market capitalization of $19.77 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 3.12 and a beta of 1.73. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million for 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, analysts anticipate that Nextpower Inc. will post 3.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the sale, the insider directly owned 246,130 shares of the company’s stock, valued at $33,158,633.60. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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, President Howard Wenger sold 62,670 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total value of $8,162,767.50. Following the completion of the sale, the president directly owned 426,467 shares in the company, valued at $55,547,326.75. This trade represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 sold a total of 228,030 shares of company stock valued at $28,812,757 over the last ninety days. 0.56% of the stock is owned by insiders.

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.