Westfield Capital Management Co. LP Lowers Position in Nextpower Inc. $NXT

Westfield Capital Management Co. LP decreased its position in Nextpower Inc. (NASDAQ:NXT) by 22.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,090,300 shares of the company’s stock after selling 307,757 shares during the period. Westfield Capital Management Co. LP’s holdings in Nextpower were worth $94,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NXT. New York Life Investment Management LLC acquired a new stake in shares of Nextpower in the third quarter valued at about $1,008,000. Legal & General Group Plc lifted its stake in shares of Nextpower by 4.6% in the fourth quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock valued at $36,090,000 after purchasing an additional 18,380 shares during the period. American Century Companies Inc. lifted its stake in shares of Nextpower by 23.4% in the third quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock valued at $50,009,000 after purchasing an additional 128,296 shares during the period. Andrew Hill Investment Advisors Inc. lifted its stake in shares of Nextpower by 31.2% in the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock valued at $6,100,000 after purchasing an additional 16,666 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of Nextpower by 938.0% in the third quarter. Allianz Asset Management GmbH now owns 794,538 shares of the company’s stock valued at $58,788,000 after purchasing an additional 717,991 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

More Nextpower News

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Northland Securities raised several forward earnings estimates for Nextpower and reiterated an Outperform rating with a $162 price target, signaling confidence in the company’s earnings growth trajectory.
• Positive Sentiment: Glj Research lifted its price target to $149.44 and maintained a buy rating, adding to the overall bullish analyst tone around the stock.
• Positive Sentiment: Nextpower’s patent infringement lawsuit against GameChange Solar may be viewed as a strategic move to protect its technology and market share in solar tracking systems. Nextpower sues GameChange over IP breach as GameChange announces rebranding
• Neutral Sentiment: GameChange said it will vigorously defend against the claims, which creates litigation uncertainty and could limit the near-term impact of the lawsuit.
• Negative Sentiment: Recent insider selling by the CFO and COO may slightly temper enthusiasm, though the trades were reported under pre-arranged 10b5-1 plans and do not necessarily signal a change in fundamentals.
• Negative Sentiment: Broader market weakness tied to China banking concerns and falling oil prices could weigh on sentiment across the renewable-energy and industrial space, even if company-specific news remains positive.

Nextpower Trading Up 2.6%

Shares of NXT opened at $150.32 on Friday. The stock has a market cap of $22.59 billion, a P/E ratio of 39.25, a PEG ratio of 3.47 and a beta of 1.73. The company has a 50-day moving average of $124.27 and a two-hundred day moving average of $109.93. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $163.13.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The company had revenue of $880.52 million during the quarter, compared to analysts’ expectations 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, analysts forecast that Nextpower Inc. will post 3.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NXT has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their price objective on shares of Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. KeyCorp raised their price objective 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. Weiss Ratings upgraded shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group raised their price objective on shares of Nextpower from $145.00 to $159.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.27.

Insider Activity at Nextpower

In other Nextpower news, insider Bruce Ledesma sold 3,248 shares of Nextpower stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the transaction, the insider owned 246,130 shares in the company, valued at approximately $33,158,633.60. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Also, CEO Daniel S. Shugar sold 59,456 shares of Nextpower stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the transaction, the chief executive officer owned 746,339 shares of the company’s stock, valued at approximately $78,492,472.63. The trade was a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 228,030 shares of company stock valued at $28,812,757 in the last quarter. 0.56% of the stock is owned by corporate insiders.

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.