Los Angeles Capital Management LLC Has $3.96 Million Holdings in Nextpower Inc. $NXT

Los Angeles Capital Management LLC cut its position in Nextpower Inc. (NASDAQ:NXT) by 14.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,456 shares of the company’s stock after selling 7,448 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Nextpower were worth $3,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. grew its position in Nextpower by 268.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 223 shares during the last quarter. Huntington National Bank grew its position in Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in Nextpower in the 3rd quarter worth $36,000. Baillie Gifford & Co. grew its position in Nextpower by 76.5% in the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Nextpower by 511.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock worth $37,000 after purchasing an additional 414 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, President Howard Wenger sold 62,670 shares of Nextpower stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the completion of the transaction, the president directly owned 426,467 shares of the company’s stock, valued at $55,547,326.75. This trade represents a 12.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, 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 transaction, the chief operating officer directly owned 221,533 shares of the company’s stock, valued at $28,205,581.56. This represents a 9.96% 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. Insiders sold a total of 168,574 shares of company stock worth $22,559,770 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

NXT has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on shares of Nextpower from $143.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Royal Bank Of Canada raised their price target on shares of Nextpower from $146.00 to $149.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. raised their price target on shares of Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. UBS Group reaffirmed a “buy” rating and set a $170.00 price objective on shares of Nextpower in a report on Friday, May 29th. Finally, The Goldman Sachs Group set a $140.00 price objective on shares of Nextpower and gave the stock a “buy” rating in a report on Tuesday, April 14th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.77.

Nextpower Stock Down 5.1%

Shares of NXT stock opened at $119.27 on Wednesday. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $163.13. The company has a market capitalization of $17.92 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.98 and a beta of 1.73. The firm has a 50-day moving average price of $124.40 and a 200 day moving average price of $110.68.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The firm had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, research analysts expect that Nextpower Inc. will post 3.69 earnings per share for the current year.

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.