Nextpower Inc. $NXT Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH cut its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 198,949 shares of the company’s stock after selling 28,030 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Nextpower were worth $23,983,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after purchasing an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in 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 purchasing an additional 223 shares during the last quarter. Huntington National Bank grew its position in Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Foster Dykema Cabot & Partners LLC acquired a new position in Nextpower in the third quarter valued at $36,000. Finally, Baillie Gifford & Co. increased its stake in Nextpower by 76.5% in 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 during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXT has been the subject of several recent research reports. BMO Capital Markets increased their target price on shares of Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Wolfe Research restated an “outperform” rating and issued a $160.00 price target on shares of Nextpower in a research report on Friday, May 29th. Robert W. Baird boosted their price target on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $140.00 price objective on shares of Nextpower in a research note on Thursday, May 14th. Finally, KeyCorp increased their price objective on Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Twenty equities 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 stock presently has an average rating of “Moderate Buy” and an average price target of $147.52.

Nextpower Price Performance

Shares of Nextpower stock opened at $106.95 on Monday. Nextpower Inc. has a 52-week low of $51.69 and a 52-week high of $163.13. The company’s 50-day simple moving average is $126.10 and its 200-day simple moving average is $113.58. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Equities research analysts anticipate that Nextpower Inc. will post 3.71 EPS for the current year.

Insider Activity at Nextpower

In other news, CEO Daniel S. Shugar sold 26,077 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the completion of the transaction, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. This represents a 2.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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, COO Nicholas Marco Miller sold 24,511 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total value of $3,120,740.52. Following the completion of the sale, the chief operating officer directly owned 221,533 shares of the company’s stock, valued at $28,205,581.56. This represents a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 168,574 shares of company stock worth $22,559,770 in the last three months. 0.56% of the stock is currently owned by corporate 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.