Rockefeller Capital Management L.P. Purchases 7,591 Shares of Nextpower Inc. $NXT

Rockefeller Capital Management L.P. lifted its position in Nextpower Inc. (NASDAQ:NXT) by 451.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,274 shares of the company’s stock after buying an additional 7,591 shares during the period. Rockefeller Capital Management L.P.’s holdings in Nextpower were worth $808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Osbon Capital Management LLC bought a new position in Nextpower in the fourth quarter valued at about $394,000. Corient Private Wealth LLC boosted its position in Nextpower by 35.5% in the fourth quarter. Corient Private Wealth LLC now owns 14,692 shares of the company’s stock worth $1,280,000 after purchasing an additional 3,852 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Nextpower during the 4th quarter valued at about $233,000. Pacer Advisors Inc. increased its position in shares of Nextpower by 10.1% during the 4th quarter. Pacer Advisors Inc. now owns 21,717 shares of the company’s stock valued at $1,892,000 after purchasing an additional 1,997 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of Nextpower during the 4th quarter valued at about $230,000. Institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $155.00 price objective on shares of Nextpower in a research note on Wednesday, May 13th. Barclays boosted their target price on shares of Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Loop Capital set a $135.00 target price on shares of Nextpower in a report on Wednesday, May 13th. Jefferies Financial Group set a $153.00 price target on shares of Nextpower in a research report on Friday, June 26th. Finally, UBS Group reiterated a “buy” rating and set a $170.00 price target on shares of Nextpower in a research note on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.69.

Nextpower Price Performance

NASDAQ NXT opened at $112.84 on Friday. The stock’s 50-day moving average price is $126.55 and its 200-day moving average price is $114.28. Nextpower Inc. has a 52 week low of $52.61 and a 52 week high of $163.13. The company has a market capitalization of $16.96 billion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 2.66 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last announced 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 company had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Research analysts anticipate that Nextpower Inc. will post 3.71 EPS for the current year.

Insider Buying and Selling at Nextpower

In related news, President Howard Wenger sold 62,670 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total value of $8,162,767.50. Following the completion of the transaction, the president owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. This represents a 12.81% decrease in their position. The sale 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 26,077 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $3,513,093.44. Following the completion of the sale, the chief executive officer owned 931,419 shares of the company’s stock, valued at $125,480,767.68. The trade was a 2.72% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, 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.

About Nextpower

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.