Louisiana State Employees Retirement System Makes New Investment in Nextpower Inc. $NXT

Louisiana State Employees Retirement System acquired a new position in Nextpower Inc. (NASDAQ:NXT) during the first quarter, according to its most recent filing with the SEC. The firm acquired 43,100 shares of the company’s stock, valued at approximately $5,196,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kestra Private Wealth Services LLC lifted its stake in Nextpower by 13.7% in the first quarter. Kestra Private Wealth Services LLC now owns 22,973 shares of the company’s stock worth $2,769,000 after acquiring an additional 2,774 shares during the period. Ritholtz Wealth Management purchased a new position in Nextpower during the 1st quarter valued at $383,000. Blue Trust Inc. raised its holdings in Nextpower by 64.4% in the 1st quarter. Blue Trust Inc. now owns 1,167 shares of the company’s stock worth $141,000 after purchasing an additional 457 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Nextpower by 4.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,810 shares of the company’s stock worth $459,000 after purchasing an additional 173 shares in the last quarter. Finally, OP Asset Management Ltd purchased a new stake in shares of Nextpower in the 1st quarter worth about $3,803,000. Institutional investors own 67.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NXT shares. KeyCorp lifted their target price on shares of Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. BNP Paribas Exane increased their price target on shares of Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. UBS Group restated a “buy” rating and issued a $170.00 price objective on shares of Nextpower in a report on Friday, May 29th. Wells Fargo & Company lifted their price objective on Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Finally, Glj Research upped their target price on Nextpower from $147.00 to $149.44 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.52.

Insider Buying and Selling

In related news, COO Nicholas Marco Miller sold 22,427 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the completion of the transaction, the chief operating officer owned 186,194 shares of the company’s stock, valued at $29,046,264. This trade represents a 10.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the transaction, the chief executive officer owned 931,419 shares of the company’s stock, valued at $125,480,767.68. The trade was a 2.72% decrease in their position. The SEC filing for this sale provides additional information. 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 a total of 168,574 shares of company stock worth $22,559,770 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Nextpower Price Performance

NASDAQ:NXT opened at $106.95 on Friday. The firm has a market capitalization of $16.07 billion, a P/E ratio of 27.92, a PEG ratio of 2.66 and a beta of 1.73. Nextpower Inc. has a one year low of $51.69 and a one year high of $163.13. The company’s 50-day simple moving average is $126.10 and its 200 day simple moving average is $113.41.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The business had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, equities research analysts expect that Nextpower Inc. will post 3.71 earnings per share for the current fiscal year.

About Nextpower

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.