KBC Group NV Buys 29,167 Shares of Nextpower Inc. $NXT

KBC Group NV raised its stake in Nextpower Inc. (NASDAQ:NXT) by 30.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,892 shares of the company’s stock after purchasing an additional 29,167 shares during the period. KBC Group NV’s holdings in Nextpower were worth $14,935,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NXT. Jupiter Asset Management Ltd. lifted its stake in shares of Nextpower by 0.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock worth $2,326,000 after buying an additional 86 shares during the last quarter. Root Financial Partners LLC lifted its position in Nextpower by 30.0% during the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after acquiring an additional 103 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Nextpower by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock worth $719,000 after acquiring an additional 119 shares during the period. Signaturefd LLC grew its position in shares of Nextpower by 4.1% in the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock valued at $280,000 after purchasing an additional 126 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Nextpower by 16.8% in the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after purchasing an additional 141 shares during the last quarter. 67.41% of the stock is owned by institutional investors.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $105.67 on Wednesday. The business’s 50 day simple moving average is $122.98 and its 200 day simple moving average is $115.99. Nextpower Inc. has a 1 year low of $52.61 and a 1 year high of $163.13. The company has a market capitalization of $15.88 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.00 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating 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 return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, sell-side analysts anticipate that Nextpower Inc. will post 3.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NXT has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $149.00 price target on shares of Nextpower in a research note on Friday, May 29th. Wall Street Zen cut Nextpower from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. BNP Paribas Exane lifted their target price on Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Barclays boosted their target price on shares of Nextpower from $142.00 to $147.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, TD Cowen decreased their price target on shares of Nextpower from $135.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $150.62.

Insiders Place Their Bets

In other Nextpower news, COO Nicholas Marco Miller sold 24,511 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the sale, the chief operating officer directly owned 221,533 shares in the company, valued at $28,205,581.56. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction 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 represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 168,574 shares of company stock valued at $22,559,770 over the last 90 days. 0.84% of the stock is owned by company insiders.

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.