First Trust Advisors LP Has $32.70 Million Stock Holdings in Nextpower Inc. $NXT

First Trust Advisors LP increased its stake in Nextpower Inc. (NASDAQ:NXT) by 27.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 601,432 shares of the company’s stock after purchasing an additional 131,139 shares during the quarter. First Trust Advisors LP owned approximately 0.41% of Nextpower worth $32,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Nextpower by 703.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock worth $28,000 after buying an additional 577 shares during the period. Cullen Frost Bankers Inc. boosted its stake in Nextpower by 122.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after purchasing an additional 324 shares during the period. Summit Securities Group LLC grew its position in Nextpower by 796.0% during the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock worth $38,000 after purchasing an additional 804 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Nextpower during the 1st quarter valued at $40,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Nextpower by 1,737.8% in the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after purchasing an additional 782 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Buying and Selling

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $67.21, for a total transaction of $302,445.00. Following the completion of the sale, the chief financial officer owned 295,059 shares of the company’s stock, valued at $19,830,915.39. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel S. Shugar sold 47,743 shares of Nextpower stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the completion of the transaction, the chief executive officer directly owned 624,882 shares in the company, valued at approximately $57,039,228.96. This represents a 7.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 67,460 shares of company stock worth $5,970,201 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Nextpower Trading Up 0.9%

NXT stock opened at $89.39 on Thursday. The firm has a market cap of $13.26 billion, a PE ratio of 23.22, a PEG ratio of 3.07 and a beta of 2.35. Nextpower Inc. has a 1 year low of $33.29 and a 1 year high of $112.74. The company has a fifty day simple moving average of $91.42 and a 200 day simple moving average of $72.78.

Nextpower (NASDAQ:NXT) last posted its earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.21. Nextpower had a return on equity of 35.05% and a net margin of 17.08%.The company had revenue of $905.27 million for the quarter, compared to analyst estimates of $839.53 million. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. As a group, analysts forecast that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Analyst Ratings Changes

NXT has been the topic of several recent analyst reports. Cowen reissued a “hold” rating on shares of Nextpower in a research report on Friday, October 24th. Wells Fargo & Company upped their target price on Nextpower from $72.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Citigroup upgraded shares of Nextpower from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $114.00 in a research note on Tuesday, October 21st. Susquehanna increased their target price on shares of Nextpower from $76.00 to $100.00 and gave the stock a “positive” rating in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Nextpower from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.76.

About Nextpower

Nextpower, formerly known as Nextracker, an energy solutions company, provides solar trackers and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.