Nextpower Inc. $NXT Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,312 shares of the company’s stock after selling 4,957 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Nextpower were worth $5,167,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock worth $18,436,000 after buying an additional 71,842 shares in the last quarter. M&T Bank Corp acquired a new stake in Nextpower during the 2nd quarter worth approximately $223,000. EverSource Wealth Advisors LLC lifted its holdings in Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after buying an additional 724 shares in the last quarter. Cerity Partners LLC lifted its holdings in Nextpower by 154.0% during the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock worth $1,008,000 after buying an additional 11,239 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock worth $12,122,000 after buying an additional 59,573 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Price Performance

NASDAQ NXT opened at $121.02 on Friday. The firm’s fifty day moving average price is $119.61 and its 200 day moving average price is $107.11. The company has a market capitalization of $17.97 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 3.09 and a beta of 1.60. Nextpower Inc. has a 12 month low of $51.69 and a 12 month high of $156.78.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The firm had revenue of $880.52 million for the quarter, compared to the consensus estimate 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. As a group, sell-side analysts forecast that Nextpower Inc. will post 3.76 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NXT shares. Barclays increased their target price on shares of Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday. The Goldman Sachs Group set a $140.00 target price on shares of Nextpower and gave the stock a “buy” rating in a report on Tuesday, April 14th. Wall Street Zen cut shares of Nextpower from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Bank of America boosted their target price on shares of Nextpower from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings raised Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.54.

Insider Activity at Nextpower

In related news, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $105.17, for a total value of $6,252,987.52. Following the transaction, the chief executive officer directly owned 746,339 shares of the company’s stock, valued at $78,492,472.63. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is owned by company insiders.

Nextpower Company 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.