Nextpower Inc. $NXT Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP grew its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,317,564 shares of the company’s stock after purchasing an additional 74,413 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.89% of Nextpower worth $71,636,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NXT. Primecap Management Co. CA raised its stake in Nextpower by 1.1% during the second quarter. Primecap Management Co. CA now owns 7,675,821 shares of the company’s stock worth $417,334,000 after purchasing an additional 83,227 shares during the period. Wellington Management Group LLP grew its stake in Nextpower by 56.5% during the 1st quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company’s stock valued at $220,722,000 after purchasing an additional 1,890,445 shares in the last quarter. Encompass Capital Advisors LLC boosted its stake in shares of Nextpower by 72.5% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock valued at $110,833,000 after buying an additional 1,105,617 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Nextpower by 4.4% during the 1st quarter. Earnest Partners LLC now owns 1,309,424 shares of the company’s stock valued at $55,179,000 after buying an additional 54,934 shares during the last quarter. Finally, Bank of New York Mellon Corp increased 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 worth $61,900,000 after buying an additional 35,642 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nextpower

In other news, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total value of $918,500.00. Following the sale, the director owned 16,777 shares of the company’s stock, valued at approximately $1,540,967.45. The trade was a 37.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Howard Wenger sold 5,217 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $391,275.00. Following the completion of the sale, the president owned 409,039 shares in the company, valued at approximately $30,677,925. This trade represents a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 67,460 shares of company stock worth $5,970,201. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on NXT shares. Jefferies Financial Group increased their price objective on shares of Nextpower from $84.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. lifted their price target on Nextpower from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. UBS Group upped their price objective on Nextpower to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC began coverage on Nextpower in a report on Wednesday, October 22nd. They issued a “buy” rating and a $102.00 price target for the company. Finally, Roth Capital restated a “buy” rating and set a $120.00 price objective on shares of Nextpower in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.76.

Nextpower Trading Up 2.4%

Shares of NASDAQ:NXT opened at $91.80 on Thursday. Nextpower Inc. has a 52 week low of $33.29 and a 52 week high of $112.74. The firm has a market capitalization of $13.62 billion, a P/E ratio of 23.75, a PEG ratio of 3.14 and a beta of 2.31. The firm’s 50 day moving average is $86.12 and its two-hundred day moving average is $68.96.

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

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.