Rathbones Group PLC Invests $1.15 Million in Nextpower Inc. $NXT

Rathbones Group PLC purchased a new position in shares of Nextpower Inc. (NASDAQ:NXT) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,510 shares of the company’s stock, valued at approximately $1,146,000.

Several other large investors also recently bought and sold shares of NXT. Smartleaf Asset Management LLC boosted its holdings in shares of Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Nextpower by 268.7% during the fourth 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 last quarter. Signature Equity Partners LLC boosted its stake in Nextpower by 76.4% during the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after buying an additional 113 shares during the last quarter. Huntington National Bank grew its holdings in Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after buying an additional 317 shares in the last quarter. Finally, Baillie Gifford & Co. grew its holdings in Nextpower by 76.5% in the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling

In other Nextpower news, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the completion of the sale, the chief operating officer directly owned 221,533 shares in the company, valued at $28,205,581.56. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the completion of the sale, the chief financial officer directly owned 358,500 shares in the company, valued at $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 168,574 shares of company stock valued at $22,559,770 over the last three months. Company insiders own 0.84% of the company’s stock.

Nextpower Stock Up 8.6%

Shares of Nextpower stock opened at $98.44 on Wednesday. The firm has a market cap of $14.79 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 1.80 and a beta of 1.95. Nextpower Inc. has a 52 week low of $52.61 and a 52 week high of $163.13. The business’s fifty day simple moving average is $116.05 and its 200-day simple moving average is $116.36.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. The firm had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. As a group, equities analysts expect that Nextpower Inc. will post 3.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup reduced their price target on Nextpower from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Monday. The Goldman Sachs Group reissued a “buy” rating and issued a $168.00 price objective on shares of Nextpower in a report on Wednesday, July 1st. Wolfe Research reissued an “outperform” rating and issued a $160.00 price objective on shares of Nextpower in a report on Friday, May 29th. Royal Bank Of Canada cut their price objective on shares of Nextpower from $149.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Finally, Freedom Capital raised shares of Nextpower from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.14.

Nextpower 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.