Strs Ohio Has $18.19 Million Holdings in Nextpower Inc. $NXT

Strs Ohio boosted its holdings in Nextpower Inc. (NASDAQ:NXT) by 4.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,900 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. Strs Ohio’s holdings in Nextpower were worth $18,191,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NXT. Norges Bank acquired a new position in shares of Nextpower during the 4th quarter worth approximately $170,918,000. Amundi raised its position in shares of Nextpower by 156.1% in the third quarter. Amundi now owns 2,111,628 shares of the company’s stock valued at $161,600,000 after buying an additional 1,287,071 shares in the last quarter. Electron Capital Partners LLC boosted its stake in shares of Nextpower by 2,017.7% in the third quarter. Electron Capital Partners LLC now owns 566,415 shares of the company’s stock valued at $41,909,000 after buying an additional 539,668 shares during the period. Lord Abbett & CO. LLC grew its position in Nextpower by 142.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 848,110 shares of the company’s stock worth $73,879,000 after buying an additional 498,110 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in Nextpower during the third quarter worth approximately $33,298,000. Institutional investors own 67.41% of the company’s stock.

Nextpower Price Performance

Nextpower stock opened at $112.84 on Friday. The business has a 50 day moving average of $126.55 and a 200-day moving average of $114.28. The company has a market capitalization of $16.96 billion, a P/E ratio of 29.46, a P/E/G ratio of 2.66 and a beta of 1.86. Nextpower Inc. has a 1 year low of $52.61 and a 1 year high of $163.13.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities analysts anticipate that Nextpower Inc. will post 3.71 EPS for the current year.

Insider Buying and Selling

In other news, CEO Daniel S. Shugar sold 26,077 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the sale, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. This represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the sale, the chief operating officer owned 221,533 shares of the company’s stock, valued at approximately $28,205,581.56. This trade represents a 9.96% 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 sold 168,574 shares of company stock valued at $22,559,770 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on NXT. Wells Fargo & Company lifted their price objective on Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Wolfe Research reissued an “outperform” rating and set a $160.00 target price on shares of Nextpower in a report on Friday, May 29th. UBS Group restated a “buy” rating and issued a $170.00 price target on shares of Nextpower in a research report on Friday, May 29th. Mizuho boosted their price target on Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.69.

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.