Nextpower Inc. $NXT Shares Purchased by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 2.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 32,040 shares of the company’s stock after acquiring an additional 743 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Nextpower were worth $1,742,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Bryce Point Capital LLC purchased a new stake in Nextpower during the 2nd quarter worth $998,000. Ethic Inc. boosted its position in shares of Nextpower by 65.1% in the second quarter. Ethic Inc. now owns 8,469 shares of the company’s stock worth $494,000 after buying an additional 3,339 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Nextpower by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,138,496 shares of the company’s stock valued at $61,900,000 after buying an additional 35,642 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Nextpower by 323.7% in the first quarter. Hsbc Holdings PLC now owns 74,038 shares of the company’s stock valued at $3,118,000 after buying an additional 56,564 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Nextpower by 22.2% during the 1st quarter. Raymond James Financial Inc. now owns 157,634 shares of the company’s stock valued at $6,643,000 after buying an additional 28,683 shares during the period. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NXT. UBS Group upped their price target on Nextpower to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Mizuho set a $76.00 target price on shares of Nextpower in a research note on Monday, October 20th. Jefferies Financial Group lifted their price target on shares of Nextpower from $84.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Needham & Company LLC initiated coverage on shares of Nextpower in a report on Wednesday, October 22nd. They issued a “buy” rating and a $102.00 price objective on the stock. Finally, Bank of America upped their price objective on shares of Nextpower from $94.00 to $102.00 and gave the company a “buy” rating in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.76.

Nextpower Price Performance

Nextpower stock opened at $85.82 on Friday. Nextpower Inc. has a 12 month low of $33.29 and a 12 month high of $112.74. The company has a fifty day moving average price of $86.49 and a two-hundred day moving average price of $69.07. The company has a market cap of $12.73 billion, a PE ratio of 22.29, a P/E/G ratio of 3.11 and a beta of 2.31.

Nextpower (NASDAQ:NXT) last issued its earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share for the quarter, topping 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 company 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. Equities research analysts anticipate that Nextpower Inc. will post 3.29 earnings per share for the current year.

Insider Buying and Selling at Nextpower

In other Nextpower news, Director William D. Watkins sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total value of $918,500.00. Following the transaction, the director owned 16,777 shares of the company’s stock, valued at $1,540,967.45. This trade represents a 37.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Howard Wenger sold 5,217 shares of Nextpower stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $75.00, for a total value of $391,275.00. Following the completion of the transaction, the president owned 409,039 shares of the company’s stock, valued at approximately $30,677,925. The trade was a 1.26% 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 in the last ninety days. Insiders own 0.56% of the company’s stock.

Nextpower Profile

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.