Nextpower Inc. $NXT Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its position in Nextpower Inc. (NASDAQ:NXT) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,357,523 shares of the company’s stock after buying an additional 67,362 shares during the period. Dimensional Fund Advisors LP owned approximately 1.59% of Nextpower worth $174,459,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Nextpower by 2.0% in the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock worth $1,048,279,000 after acquiring an additional 283,981 shares in the last quarter. Primecap Management Co. CA grew its stake in Nextpower by 1.1% during the 2nd quarter. Primecap Management Co. CA now owns 7,675,821 shares of the company’s stock valued at $417,334,000 after purchasing an additional 83,227 shares in the last quarter. Encompass Capital Advisors LLC increased its holdings in Nextpower by 11.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company’s stock worth $158,748,000 after purchasing an additional 289,663 shares during the last quarter. Norges Bank acquired a new position in shares of Nextpower in the 2nd quarter valued at approximately $140,772,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Nextpower by 8.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,303,206 shares of the company’s stock valued at $125,225,000 after buying an additional 176,530 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Stock Up 6.6%

Shares of NASDAQ NXT opened at $108.13 on Tuesday. The firm’s 50-day moving average price is $106.66 and its two-hundred day moving average price is $92.15. Nextpower Inc. has a 52-week low of $36.06 and a 52-week high of $131.59. The stock has a market capitalization of $16.06 billion, a P/E ratio of 27.65, a P/E/G ratio of 2.98 and a beta of 2.41.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NXT shares. Wall Street Zen cut shares of Nextpower from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 25th. Bank of America boosted their target price on shares of Nextpower from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Nextpower in a research note on Monday, December 29th. Roth Mkm reiterated a “buy” rating and issued a $130.00 price target on shares of Nextpower in a research note on Wednesday, January 28th. Finally, Robert W. Baird set a $126.00 price objective on Nextpower in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Nextpower presently has an average rating of “Moderate Buy” and a consensus price target of $108.32.

Insider Transactions at Nextpower

In other Nextpower news, CAO David P. Bennett sold 33,725 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the completion of the transaction, the chief accounting officer directly owned 130,967 shares of the company’s stock, valued at $11,535,573.36. The trade was a 20.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the director owned 11,777 shares of the company’s stock, valued at approximately $1,396,398.89. This trade represents a 29.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 138,073 shares of company stock worth $13,847,023. Insiders own 0.56% of the company’s stock.

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.