Trillium Asset Management LLC Lowers Holdings in Nextpower Inc. $NXT

by · The Markets Daily

Trillium Asset Management LLC reduced its stake in shares of Nextpower Inc. (NASDAQ:NXT – Free Report) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,570 shares of the company’s stock after selling 15,812 shares during the quarter. Trillium Asset Management LLC’s holdings in Nextpower were worth $9,737,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NXT. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 lifted its stake in shares of 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 purchased a new stake in shares of Nextpower during the 3rd quarter worth $36,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Nextpower by 511.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock worth $37,000 after purchasing an additional 414 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $121.88 on Friday. The business’s 50-day moving average is $124.40 and its 200 day moving average is $111.17. Nextpower Inc. has a 1 year low of $51.69 and a 1 year high of $163.13. The firm has a market capitalization of $18.31 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.84 and a beta of 1.73.

Nextpower (NASDAQ:NXT – Get Free Report) last announced its 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 company 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. On average, analysts expect that Nextpower Inc. will post 3.69 EPS for the current year.

Analyst Upgrades and Downgrades

NXT has been the subject of a number of analyst reports. Barclays upped their price objective on Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. BNP Paribas Exane upped their price objective on Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. BMO Capital Markets upped their price objective on Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Jefferies Financial Group upped their price objective on Nextpower from $145.00 to $159.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group set a $140.00 price objective on Nextpower and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Nextpower has a consensus rating of “Moderate Buy” and an average price target of $147.77.

Get Our Latest Stock Analysis on Nextpower

Insider Activity at Nextpower

In related news, President Howard Wenger sold 62,670 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the transaction, the president directly owned 426,467 shares of the company’s stock, valued at $55,547,326.75. This represents a 12.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 company’s stock in a transaction dated 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 transaction, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 168,574 shares of company stock worth $22,559,770 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

About Nextpower

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nextpower Inc. (NASDAQ:NXT – Free Report).