Nextpower Inc. $NXT Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its position in Nextpower Inc. (NASDAQ:NXT) by 23.4% during the third quarter, HoldingsChannel reports. The firm owned 59,534 shares of the company’s stock after buying an additional 11,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Nextpower were worth $4,403,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Nextpower by 2.0% during the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock worth $1,048,279,000 after purchasing an additional 283,981 shares in the last quarter. Primecap Management Co. CA raised its stake in Nextpower by 1.1% in the second quarter. Primecap Management Co. CA now owns 7,675,821 shares of the company’s stock valued at $417,334,000 after buying an additional 83,227 shares in the last quarter. State Street Corp raised its stake in Nextpower by 0.6% in the third quarter. State Street Corp now owns 5,391,696 shares of the company’s stock valued at $398,932,000 after buying an additional 31,689 shares in the last quarter. Encompass Capital Advisors LLC lifted its holdings in Nextpower by 11.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company’s stock worth $158,748,000 after buying an additional 289,663 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Nextpower by 9.9% during the 3rd quarter. Invesco Ltd. now owns 2,725,449 shares of the company’s stock worth $201,656,000 after buying an additional 245,412 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Nextpower news, Director William D. Watkins sold 5,000 shares of Nextpower stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the transaction, the director directly owned 11,777 shares in the company, valued at approximately $1,396,398.89. This trade represents a 29.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel S. Shugar sold 59,456 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 746,339 shares in the company, valued at approximately $78,492,472.63. The trade was a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 104,348 shares of company stock worth $10,876,525 in the last 90 days. 0.56% of the stock is currently owned by insiders.

Nextpower Stock Performance

Shares of Nextpower stock opened at $121.84 on Wednesday. The company has a market capitalization of $18.09 billion, a P/E ratio of 31.16, a PEG ratio of 2.81 and a beta of 2.41. Nextpower Inc. has a 1 year low of $36.06 and a 1 year high of $131.59. The company’s fifty day moving average is $110.07 and its two-hundred day moving average is $94.25.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.17. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The business had revenue of $909.35 million during the quarter, compared to the consensus estimate of $812.43 million. As a group, equities analysts expect that Nextpower Inc. will post 3.29 earnings per share for the current year.

Analyst Ratings Changes

NXT has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Nextpower from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 25th. KeyCorp reaffirmed an “overweight” rating on shares of Nextpower in a report on Friday. BMO Capital Markets reiterated a “market perform” rating and issued a $104.00 price target on shares of Nextpower in a research note on Wednesday, January 28th. Robert W. Baird set a $126.00 price objective on shares of Nextpower in a report on Wednesday, January 28th. Finally, Barclays set a $115.00 price objective on shares of Nextpower in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nextpower currently has an average rating of “Moderate Buy” and an average price target of $111.49.

Nextpower Company 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.