Swedbank AB lifted its holdings in shares of Nextpower Inc. (NASDAQ:NXT – Free Report) by 16.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,500 shares of the company’s stock after buying an additional 23,000 shares during the period. Swedbank AB’s holdings in Nextpower were worth $13,894,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of NXT. Whittier Trust Co. of Nevada Inc. increased its holdings 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 in the last quarter. Foster Dykema Cabot & Partners LLC acquired a new position in Nextpower in the 3rd quarter worth about $36,000. Baillie Gifford & Co. increased its holdings 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 in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 in the last quarter. Finally, BOKF NA increased its holdings in Nextpower by 1,135.7% in the 3rd quarter. BOKF NA now owns 519 shares of the company’s stock worth $38,000 after purchasing an additional 477 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.
Insider Buying and Selling at Nextpower
In other Nextpower news, President Howard Wenger sold 9,051 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $121.02, for a total value of $1,095,352.02. Following the sale, the president owned 499,531 shares in the company, valued at approximately $60,453,241.62. The trade was a 1.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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, CEO Daniel S. Shugar sold 59,456 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the sale, the chief executive officer owned 746,339 shares in the company, valued at $78,492,472.63. This trade represents a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 149,000 shares of company stock worth $16,548,347. Insiders own 0.56% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Stock Report on NXT
Nextpower Trading Up 0.5%
NASDAQ NXT opened at $131.21 on Wednesday. The business’s 50-day moving average price is $120.41 and its two-hundred day moving average price is $107.67. Nextpower Inc. has a 12 month low of $51.69 and a 12 month high of $156.78. The firm has a market capitalization of $19.48 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 3.21 and a beta of 1.60.
Nextpower (NASDAQ:NXT – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The firm had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, analysts forecast that Nextpower Inc. will post 3.76 earnings per share for the current fiscal 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.
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