Prudential PLC Has $4.15 Million Stock Holdings in Nextpower Inc. $NXT

Prudential PLC grew its position in shares of Nextpower Inc. (NASDAQ:NXT) by 13.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,609 shares of the company’s stock after purchasing an additional 5,519 shares during the quarter. Prudential PLC’s holdings in Nextpower were worth $4,147,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 223 shares in the last quarter. Huntington National Bank boosted its stake in shares of Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after purchasing an additional 317 shares in the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Nextpower during the third quarter valued at about $36,000. Baillie Gifford & Co. boosted its stake in shares of Nextpower by 76.5% during the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after purchasing an additional 182 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Nextpower by 511.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock valued at $37,000 after purchasing an additional 414 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nextpower

In other Nextpower news, President Howard Wenger sold 62,670 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50. Following the transaction, the president directly owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, insider Bruce Ledesma sold 3,248 shares of the business’s 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 $437,570.56. Following the completion of the transaction, the insider directly owned 246,130 shares in the company, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 228,030 shares of company stock valued at $28,812,757. 0.56% of the stock is owned by insiders.

Nextpower Price Performance

Shares of NXT opened at $131.57 on Friday. Nextpower Inc. has a 1 year low of $51.69 and a 1 year high of $163.13. The company has a market capitalization of $19.77 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 3.12 and a beta of 1.73. The business has a 50-day moving average of $124.30 and a 200-day moving average of $110.08.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Nextpower Inc. will post 3.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NXT. Wolfe Research reissued an “outperform” rating and set a $160.00 price target on shares of Nextpower in a research note on Friday, May 29th. Wall Street Zen lowered Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays lifted their price target on Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Weiss Ratings raised Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 20th. Finally, BMO Capital Markets lifted their price target on Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Twenty equities research 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $147.27.

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.