Nextpower Inc. $NXT Position Lifted by Legato Capital Management LLC

Legato Capital Management LLC raised its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 76.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,275 shares of the company’s stock after acquiring an additional 7,930 shares during the quarter. Legato Capital Management LLC’s holdings in Nextpower were worth $1,592,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Nextpower by 268.7% during the fourth 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 period. Baillie Gifford & Co. raised its holdings in shares of Nextpower by 76.5% during the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Nextpower during the third quarter worth $36,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Nextpower by 511.1% during the third 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 period. Finally, Rakuten Securities Inc. raised its holdings in shares of Nextpower by 324.8% during the fourth quarter. Rakuten Securities Inc. now owns 514 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Insider Activity at Nextpower

In related news, President Howard Wenger sold 16,090 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 value of $2,048,578.80. Following the completion of the transaction, the president owned 508,582 shares in the company, valued at $64,752,660.24. This represents a 3.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 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 completion of the transaction, the chief operating officer owned 221,533 shares of the company’s stock, valued at $28,205,581.56. This represents a 9.96% decrease in their position. 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 139,949 shares of company stock worth $15,452,995 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Nextpower Stock Up 7.8%

Shares of NXT opened at $130.50 on Friday. The firm has a 50-day moving average price of $119.89 and a 200 day moving average price of $107.28. The firm has a market capitalization of $19.38 billion, a PE ratio of 34.07, a P/E/G ratio of 3.21 and a beta of 1.60. Nextpower Inc. has a 52-week low of $51.69 and a 52-week high of $156.78.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The firm had revenue of $880.52 million during the quarter, compared to analyst estimates of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, equities analysts expect that Nextpower Inc. will post 3.76 EPS for the current year.

Analyst Upgrades and Downgrades

NXT has been the topic of a number of research reports. BMO Capital Markets increased their target price on shares of Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. BNP Paribas Exane increased their target price on shares of Nextpower from $145.00 to $177.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Robert W. Baird increased their price objective on shares of Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Mizuho increased their price objective on shares of Nextpower from $112.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Loop Capital set a $135.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Nextpower currently has a consensus rating of “Moderate Buy” and an average price target of $136.54.

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.