WCM Investment Management LLC Takes Position in Nextpower Inc. $NXT

WCM Investment Management LLC purchased a new position in shares of Nextpower Inc. (NASDAQ:NXT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 93,922 shares of the company’s stock, valued at approximately $10,567,000.

Several other institutional investors also recently modified their holdings of the business. State Street Corp increased its holdings in Nextpower by 0.6% in the third quarter. State Street Corp now owns 5,391,696 shares of the company’s stock valued at $398,932,000 after purchasing an additional 31,689 shares during the period. Geode Capital Management LLC lifted its holdings in Nextpower by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock worth $350,385,000 after buying an additional 236,593 shares during the period. Invesco Ltd. lifted its holdings in Nextpower by 5.1% during the 4th quarter. Invesco Ltd. now owns 2,864,660 shares of the company’s stock worth $249,541,000 after buying an additional 139,211 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Nextpower by 4.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,429,410 shares of the company’s stock worth $211,627,000 after buying an additional 111,782 shares during the period. Finally, Amundi grew its position in shares of Nextpower by 156.1% in the 3rd quarter. Amundi now owns 2,111,628 shares of the company’s stock valued at $161,600,000 after buying an additional 1,287,071 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NXT shares. Truist Financial assumed coverage on Nextpower in a research note on Monday, July 13th. They issued a “buy” rating and a $140.00 price target for the company. BMO Capital Markets increased their target price on shares of Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Northland Securities raised their price target on shares of Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Weiss Ratings lowered shares of Nextpower from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Finally, Glj Research lifted their target price on shares of Nextpower from $147.00 to $149.44 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.42.

Nextpower Price Performance

NASDAQ NXT opened at $100.23 on Tuesday. The business has a 50 day simple moving average of $123.37 and a 200 day simple moving average of $115.86. Nextpower Inc. has a one year low of $52.61 and a one year high of $163.13. The stock has a market capitalization of $15.06 billion, a P/E ratio of 26.17, a P/E/G ratio of 2.04 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. The firm had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities analysts expect that Nextpower Inc. will post 3.75 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Nicholas Marco Miller sold 22,427 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the transaction, the chief operating officer directly owned 186,194 shares of the company’s stock, valued at $29,046,264. This represents a 10.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the sale, the insider owned 246,130 shares of the company’s stock, valued at $33,158,633.60. The trade was a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 168,574 shares of company stock worth $22,559,770 over the last ninety days. 0.84% of the stock is owned by company insiders.

About Nextpower

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.