Thrivent Financial for Lutherans Lowers Stake in Nextpower Inc. $NXT

Thrivent Financial for Lutherans reduced its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 7.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 59,312 shares of the company’s stock after selling 4,957 shares during the period. Thrivent Financial for Lutherans’ holdings in Nextpower were worth $5,167,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of NXT. Whittier Trust Co. of Nevada Inc. grew its position in Nextpower by 268.7% during the 4th 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 last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in Nextpower during the 3rd quarter worth $36,000. Baillie Gifford & Co. grew its position in Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Nextpower by 511.1% during the 3rd 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. Finally, BOKF NA grew its position in Nextpower by 1,135.7% during the 3rd quarter. BOKF NA now owns 519 shares of the company’s stock worth $38,000 after purchasing an additional 477 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextpower Stock Performance

NXT stock opened at $121.02 on Friday. Nextpower Inc. has a one year low of $51.69 and a one year high of $156.78. The stock has a market capitalization of $17.97 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 3.09 and a beta of 1.60. The company has a fifty day moving average of $119.61 and a 200-day moving average of $107.11.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The firm 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. Equities analysts forecast that Nextpower Inc. will post 3.76 earnings per share for the current fiscal year.

Insider Activity at Nextpower

In related news, CEO Daniel S. Shugar sold 59,456 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 746,339 shares in the company, valued at $78,492,472.63. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on NXT shares. JPMorgan Chase & Co. raised their price objective on shares of Nextpower from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Loop Capital set a $135.00 target price on shares of Nextpower in a research note on Wednesday, May 13th. UBS Group raised their target price on shares of Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Robert W. Baird raised their target price on shares of Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Nextpower currently has an average rating of “Moderate Buy” and a consensus 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.