WCM Investment Management LLC Buys Shares of 93,922 Nextpower Inc. $NXT

WCM Investment Management LLC bought a new stake in Nextpower Inc. (NASDAQ:NXT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 93,922 shares of the company’s stock, valued at approximately $10,567,000. WCM Investment Management LLC owned approximately 0.06% of Nextpower at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NXT. Smartleaf Asset Management LLC boosted its position in shares of Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after acquiring an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 223 shares in the last quarter. Huntington National Bank raised its position in Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after purchasing an additional 317 shares in the last quarter. Baillie Gifford & Co. raised its position in Nextpower by 76.5% during the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after purchasing an additional 182 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in 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 last quarter. Institutional investors own 67.41% of the company’s stock.

Nextpower Stock Performance

NASDAQ NXT opened at $100.23 on Tuesday. The firm’s fifty day moving average price is $123.37 and its two-hundred day moving average price is $115.86. The stock has a market cap of $15.06 billion, a PE ratio of 26.17, a PEG ratio of 2.04 and a beta of 1.86. Nextpower Inc. has a fifty-two week low of $52.61 and a fifty-two week high of $163.13.

Nextpower (NASDAQ:NXT) last announced its quarterly 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. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The company had revenue of $880.52 million during the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, sell-side analysts predict that Nextpower Inc. will post 3.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $151.79, for a total transaction of $683,055.00. Following the sale, the chief financial officer directly owned 358,500 shares of the company’s stock, valued at approximately $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 62,670 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50. Following the sale, the president owned 426,467 shares in the company, valued at approximately $55,547,326.75. This trade represents a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders have sold 168,574 shares of company stock worth $22,559,770. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

NXT has been the topic of a number of research analyst reports. Barclays raised their target price on Nextpower from $142.00 to $147.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Roth Capital reissued a “buy” rating and set a $155.00 price target on shares of Nextpower in a report on Wednesday, May 13th. JPMorgan Chase & Co. upped their price objective on Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Mizuho raised their price objective on Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Finally, Wall Street Zen cut Nextpower from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.42.

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.