Los Angeles Capital Management LLC Sells 7,448 Shares of Nextpower Inc. $NXT

Los Angeles Capital Management LLC cut its stake in Nextpower Inc. (NASDAQ:NXT) by 14.1% in the fourth quarter, according to the company in its most recent Form 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 period. Los Angeles Capital Management LLC’s holdings in Nextpower were worth $3,960,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. grew its position in shares of Nextpower by 268.7% during the 4th 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 period. Huntington National Bank grew its position in shares of Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after buying an additional 317 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Nextpower during the 3rd quarter worth approximately $36,000. Baillie Gifford & Co. grew its position in shares of Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after buying an additional 182 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Nextpower by 511.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock worth $37,000 after buying an additional 414 shares during the period. 67.41% of the stock is owned by institutional investors.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $119.27 on Wednesday. The stock has a market cap 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 Inc. has a 52-week low of $51.69 and a 52-week high of $163.13.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The firm had revenue of $880.52 million during the quarter, compared to analysts’ expectations 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. Analysts predict that Nextpower Inc. will post 3.69 earnings per share for the current fiscal year.

Insider Activity

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction that occurred 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 transaction, the chief executive officer owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing 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 Nextpower stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 221,533 shares in the company, valued at approximately $28,205,581.56. The trade was a 9.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 168,574 shares of company stock valued at $22,559,770. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on NXT shares. BMO Capital Markets lifted their price target on shares of Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Nextpower from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Loop Capital set a $135.00 price target on shares of Nextpower in a research report on Wednesday, May 13th. JPMorgan Chase & Co. lifted 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. Finally, Weiss Ratings upgraded shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 20th. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $147.77.

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.