North Point Portfolio Managers Corp OH Sells 21,581 Shares of Nextpower Inc. $NXT

North Point Portfolio Managers Corp OH lessened its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 12.8% during the first quarter, Holdings Channel.com reports. The fund owned 147,211 shares of the company’s stock after selling 21,581 shares during the period. Nextpower accounts for about 3.2% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 9th biggest holding. North Point Portfolio Managers Corp OH’s holdings in Nextpower were worth $17,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Nextpower by 19.6% during the 1st 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 purchasing an additional 71,842 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Nextpower in the 2nd quarter worth $223,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Nextpower by 179.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after buying an additional 724 shares during the period. Cerity Partners LLC lifted its holdings in shares of Nextpower by 154.0% in the second quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after buying an additional 11,239 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Nextpower by 36.5% during the second quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after buying an additional 59,573 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Insider Activity at Nextpower

In other news, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $151.79, for a total value of $683,055.00. Following the transaction, the chief financial officer directly owned 358,500 shares of the company’s stock, valued at $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nicholas Marco Miller sold 22,427 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 186,194 shares in the company, valued at $29,046,264. This represents a 10.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 168,574 shares of company stock valued at $22,559,770. Corporate insiders own 0.56% of the company’s stock.

Nextpower Stock Up 7.7%

Shares of Nextpower stock opened at $119.14 on Wednesday. The stock’s fifty day moving average is $126.33 and its 200-day moving average is $113.94. The firm has a market capitalization of $17.90 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 2.60 and a beta of 1.73. Nextpower Inc. has a 12-month low of $52.61 and a 12-month high of $163.13.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to the consensus estimate 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. Analysts expect that Nextpower Inc. will post 3.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NXT. UBS Group reaffirmed a “buy” rating and set a $170.00 target price on shares of Nextpower in a report on Friday, May 29th. Citigroup upped their price target on shares of Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $140.00 price objective on shares of Nextpower in a research report on Thursday, May 14th. The Goldman Sachs Group set a $140.00 price objective on shares of Nextpower and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Finally, Northland Securities boosted their target price on shares of Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.52.

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.