Nextpower Inc. $NXT Holdings Lifted by Candriam S.C.A.

Candriam S.C.A. increased its position in shares of Nextpower Inc. (NASDAQ:NXT) by 23.0% during the third quarter, Holdings Channel.com reports. The fund owned 136,799 shares of the company’s stock after acquiring an additional 25,594 shares during the quarter. Candriam S.C.A.’s holdings in Nextpower were worth $10,122,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Nextpower by 19.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after purchasing an additional 71,842 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in Nextpower by 2.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,013 shares of the company’s stock valued at $872,000 after buying an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Nextpower by 7.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 21,155 shares of the company’s stock worth $1,217,000 after buying an additional 1,420 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Nextpower in the second quarter worth approximately $612,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Nextpower during the second quarter valued at approximately $866,000. Institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling

In other Nextpower news, CEO Daniel S. Shugar sold 47,743 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $91.28, for a total value of $4,357,981.04. Following the completion of the sale, the chief executive officer directly owned 624,882 shares of the company’s stock, valued at $57,039,228.96. The trade was a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total transaction of $918,500.00. Following the transaction, the director owned 16,777 shares in the company, valued at $1,540,967.45. This represents a 37.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 96,468 shares of company stock worth $8,839,829. Insiders own 0.56% of the company’s stock.

Nextpower Trading Down 3.2%

NXT opened at $117.94 on Wednesday. The stock has a fifty day moving average price of $97.92 and a 200 day moving average price of $85.03. Nextpower Inc. has a 1 year low of $36.06 and a 1 year high of $131.59. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 3.58 and a beta of 2.35.

Nextpower (NASDAQ:NXT) last issued 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. The company had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. Nextpower had a return on equity of 32.01% and a net margin of 16.43%. As a group, sell-side analysts forecast that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of recent analyst reports. Guggenheim set a $74.00 price objective on shares of Nextpower in a research note on Wednesday, October 22nd. The Goldman Sachs Group raised their target price on Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. BMO Capital Markets reissued a “market perform” rating and set a $104.00 price target on shares of Nextpower in a research report on Wednesday, January 28th. Northland Securities set a $111.00 price objective on Nextpower in a research note on Tuesday, January 6th. Finally, Wall Street Zen cut Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 25th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Nextpower presently has a consensus rating of “Moderate Buy” and an average price target of $108.32.

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.