Prudential Financial Inc. Purchases 138,867 Shares of Nextpower Inc. $NXT

Prudential Financial Inc. increased its position in shares of Nextpower Inc. (NASDAQ:NXT) by 200.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 207,979 shares of the company’s stock after purchasing an additional 138,867 shares during the period. Prudential Financial Inc.’s holdings in Nextpower were worth $11,308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Nextpower by 703.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock valued at $28,000 after acquiring an additional 577 shares during the period. Cullen Frost Bankers Inc. lifted its stake in Nextpower by 122.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after purchasing an additional 324 shares during the last quarter. Summit Securities Group LLC grew its holdings in Nextpower by 796.0% during the first quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock worth $38,000 after purchasing an additional 804 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Nextpower during the first quarter worth about $40,000. Finally, Hantz Financial Services Inc. increased its position in Nextpower by 1,737.8% during the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after buying an additional 782 shares during the last quarter. 67.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NXT shares. UBS Group raised their price objective on Nextpower to $125.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Guggenheim set a $74.00 price objective on shares of Nextpower in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft set a $99.00 price objective on shares of Nextpower and gave the company a “buy” rating in a report on Friday, October 24th. Cowen reissued a “hold” rating on shares of Nextpower in a research report on Friday, October 24th. Finally, Wall Street Zen downgraded shares of Nextpower from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.76.

Nextpower Stock Performance

NXT opened at $90.67 on Friday. The stock has a fifty day moving average of $88.59 and a 200-day moving average of $70.65. The company has a market capitalization of $13.45 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.14 and a beta of 2.31. Nextpower Inc. has a fifty-two week low of $33.29 and a fifty-two week high of $112.74.

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

Insider Buying and Selling at Nextpower

In other news, CEO Daniel S. Shugar sold 47,743 shares of the firm’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 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 approximately $57,039,228.96. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Howard Wenger sold 5,217 shares of the business’s 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 sale, the president owned 409,039 shares of the company’s stock, valued at approximately $30,677,925. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 67,460 shares of company stock valued at $5,970,201 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Nextpower Company 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.