12,309 Shares of Nextpower Inc. $NXT Bought by Machina Capital S.A.S.

Machina Capital S.A.S. purchased a new position in shares of Nextpower Inc. (NASDAQ:NXT) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 12,309 shares of the company’s stock, valued at approximately $959,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fundsmith LLP bought a new stake in Nextpower in the second quarter valued at approximately $340,275,000. Pictet Asset Management Holding SA boosted its position in Nextpower by 69.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 4,334,659 shares of the company’s stock valued at $337,899,000 after buying an additional 1,772,231 shares during the period. Bank of America Corp DE grew its holdings in Nextpower by 34.6% in the 1st quarter. Bank of America Corp DE now owns 1,568,235 shares of the company’s stock worth $189,051,000 after acquiring an additional 402,770 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Nextpower by 134.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company’s stock worth $164,488,000 after acquiring an additional 780,958 shares during the last quarter. Finally, Robeco Schweiz AG grew its holdings in Nextpower by 98.8% in the 3rd quarter. Robeco Schweiz AG now owns 1,721,087 shares of the company’s stock worth $134,124,000 after acquiring an additional 855,460 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NXT shares. Barclays decreased their price objective on shares of Nextpower from $147.00 to $146.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. Mizuho dropped their target price on shares of Nextpower from $111.00 to $101.00 and set a “neutral” rating for the company in a report on Thursday, October 15th. JPMorgan Chase & Co. cut their target price on Nextpower from $136.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Cantor Fitzgerald boosted their price target on Nextpower from $55.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nextpower in a report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.93.

Insider Activity

In related news, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $79.98, for a total value of $359,910.00. Following the completion of the transaction, the chief financial officer directly owned 354,000 shares in the company, valued at $28,312,920. The trade was a 1.26% decrease in their position. 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, Director Brandi Thomas sold 7,415 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total transaction of $676,618.75. Following the completion of the transaction, the director owned 7,914 shares of the company’s stock, valued at approximately $722,152.50. The trade was a 48.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,330 shares of company stock worth $1,674,948 over the last 90 days. 0.84% of the stock is currently owned by insiders.

Nextpower Trading Down 6.9%

Shares of NASDAQ:NXT opened at $93.60 on Friday. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 2.11 and a beta of 1.93. The stock has a fifty day simple moving average of $85.05 and a two-hundred day simple moving average of $106.63. Nextpower Inc. has a 12-month low of $75.40 and a 12-month high of $163.13.

Nextpower (NASDAQ:NXT) last issued its earnings results on Wednesday, October 28th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.21. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Nextpower had a net margin of 15.98% and a return on equity of 25.33%. As a group, equities research analysts predict that Nextpower Inc. will post 3.98 EPS for the current year.

About Nextpower

Nextpower, Inc., formerly known as Nextracker, designs and supplies solar-tracking systems and related technology for utility-scale solar power plants. Its equipment helps solar panels follow the sun across the day, increasing the amount of energy generated by a project. The company’s offerings include its NX Horizon tracker platform and TrueCapture software, which uses data and controls to adjust tracker positioning to site conditions. Nextpower also provides engineering and project support services to solar developers, contractors and plant operators.