Grantham Mayo Van Otterloo & Co. LLC Sells 462,215 Shares of Nextpower Inc. $NXT

Grantham Mayo Van Otterloo & Co. LLC cut its stake in Nextpower Inc. (NASDAQ:NXT) by 44.6% in the 2nd quarter, Holdings Channel reports. The firm owned 574,599 shares of the company’s stock after selling 462,215 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Nextpower were worth $31,241,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State of Michigan Retirement System raised its stake in Nextpower by 0.6% in the second quarter. State of Michigan Retirement System now owns 34,600 shares of the company’s stock worth $1,881,000 after buying an additional 200 shares in the last quarter. Flputnam Investment Management Co. raised its position in shares of Nextpower by 2.4% in the 1st quarter. Flputnam Investment Management Co. now owns 8,621 shares of the company’s stock worth $363,000 after acquiring an additional 201 shares in the last quarter. Boston Partners lifted its stake in shares of Nextpower by 2.7% in the 1st quarter. Boston Partners now owns 10,494 shares of the company’s stock valued at $442,000 after purchasing an additional 280 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of Nextpower by 122.3% during the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after purchasing an additional 324 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Nextpower by 2.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,013 shares of the company’s stock worth $872,000 after purchasing an additional 400 shares during the period. Institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NXT shares. Robert W. Baird set a $100.00 price objective on Nextpower in a research report on Friday, October 31st. BMO Capital Markets lifted their price target on shares of Nextpower from $89.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Bank of America upped their price objective on shares of Nextpower from $94.00 to $102.00 and gave the stock a “buy” rating in a report on Friday, November 14th. JPMorgan Chase & Co. lifted their target price on shares of Nextpower from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Finally, TD Cowen boosted their price target on Nextpower from $65.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.76.

Nextpower Stock Performance

Shares of Nextpower stock opened at $92.00 on Friday. The company has a 50-day simple moving average of $89.00 and a two-hundred day simple moving average of $70.93. The stock has a market capitalization of $13.65 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 3.14 and a beta of 2.31. Nextpower Inc. has a 52-week low of $33.29 and a 52-week high of $112.74.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.21. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. The firm had revenue of $905.27 million for the quarter, compared to analysts’ expectations of $839.53 million. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. As a group, equities research analysts forecast that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Daniel S. Shugar sold 47,743 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the transaction, the chief executive officer directly owned 624,882 shares of the company’s stock, valued at $57,039,228.96. This represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Charles D. Boynton sold 4,500 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $67.21, for a total value of $302,445.00. Following the sale, the chief financial officer directly owned 295,059 shares in the company, valued at $19,830,915.39. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 67,460 shares of company stock worth $5,970,201 over the last three months. Company insiders own 0.56% of the company’s stock.

About Nextpower

Nextpower, formerly known as Nextracker, an energy solutions company, provides solar trackers and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.