Nextpower Inc. $NXT Stock Position Reduced by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH reduced its position in shares of Nextpower Inc. (NASDAQ:NXT) by 27.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 226,979 shares of the company’s stock after selling 85,317 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.15% of Nextpower worth $19,772,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division boosted its holdings in Nextpower by 13.7% in the fourth quarter. Moody National Bank Trust Division now owns 19,645 shares of the company’s stock worth $1,711,000 after purchasing an additional 2,369 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nextpower by 3.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,919 shares of the company’s stock worth $1,365,000 after purchasing an additional 510 shares during the period. Leibman Financial Services Inc. lifted its position in shares of Nextpower by 3.4% in the 4th quarter. Leibman Financial Services Inc. now owns 18,069 shares of the company’s stock worth $1,574,000 after buying an additional 599 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Nextpower by 20.3% in the 4th quarter. Park Avenue Securities LLC now owns 5,679 shares of the company’s stock worth $495,000 after buying an additional 960 shares during the last quarter. Finally, Union Bancaire Privee UBP SA boosted its holdings in shares of Nextpower by 147.9% in the 4th quarter. Union Bancaire Privee UBP SA now owns 32,671 shares of the company’s stock valued at $2,677,000 after buying an additional 19,493 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and set a $130.00 price objective on shares of Nextpower in a research note on Wednesday, January 28th. UBS Group lifted their target price on Nextpower from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Glj Research reaffirmed a “buy” rating and set a $147.33 target price on shares of Nextpower in a report on Monday, March 16th. Needham & Company LLC raised their price target on Nextpower from $103.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, TD Cowen boosted their price objective on Nextpower from $88.00 to $105.00 and gave the company a “hold” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.49.

Nextpower Trading Up 0.2%

NXT opened at $120.03 on Friday. The business’s 50 day moving average is $114.12 and its 200-day moving average is $96.77. The stock has a market cap of $17.82 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 2.85 and a beta of 2.41. Nextpower Inc. has a twelve month low of $36.06 and a twelve month high of $131.72.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The business had revenue of $909.35 million during the quarter, compared to analyst estimates of $812.43 million. As a group, analysts forecast that Nextpower Inc. will post 3.29 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Daniel S. Shugar sold 59,456 shares of Nextpower stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the sale, the chief executive officer directly owned 746,339 shares in the company, valued at $78,492,472.63. The trade was 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 through the SEC website. Also, Director William D. Watkins sold 5,000 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $118.57, for a total transaction of $592,850.00. Following the completion of the sale, the director directly owned 11,777 shares of the company’s stock, valued at $1,396,398.89. The trade was a 29.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,348 shares of company stock valued at $10,876,525 in the last quarter. 0.56% of the stock is currently owned by insiders.

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.