Royal London Asset Management Adds $186M in Nextpower Inc. ($NXT)
Royal London Asset Management has initiated a new position in Nextpower Inc., acquiring 1,558,511 shares.
Key Points
- Royal London Asset Management acquired 1,558,511 shares of Nextpower Inc., valued at approximately $189.95 million.
- Nextpower Inc. has a market cap of $18.31 billion, a P/E ratio of 31.74, and its shares recently traded at $121.88.
- Analysts have set a mean price target of $150.19 for Nextpower, with recent ratings from firms like Mizuho and GLJ Research.
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Royal London Asset Management has taken a new position in Nextpower Inc. (NasdaqGS: NXT), buying 1,558,511 shares. This stake is valued at about $189.95 million, according to the latest Form 13F filing with the SEC. The filing reflects holdings as of the reporting period and may not represent the investor's current position.
What Changed in Royal London Asset Management's Nextpower Position
Royal London Asset Management's latest filing shows a new investment in Nextpower Inc., with 1,558,511 shares acquired. This marks the firm's initial position in the company, with no shares held prior to this acquisition.
Other Institutional Activity in Nextpower
BlackRock, Inc. increased its holdings in Nextpower by 559,971 shares, bringing its total to 24,872,657 shares valued at approximately $2.99 billion. FMR LLC made a significant addition of 3,037,860 shares, now holding 20,248,938 shares worth about $2.44 billion. On the other hand, Primecap Management Co/CA/ trimmed its position by 190,750 shares, leaving it with 6,760,847 shares valued at around $815.02 million. Vanguard Portfolio Management LLC and Vanguard Capital Management LLC both added substantial positions, holding 6,704,709 and 6,405,953 shares respectively.
Nextpower Inc. Stock Up 39.4%
Shares of Nextpower Inc. (NasdaqGS: NXT) recently traded at $121.88. The company has a market capitalization of $18.31 billion and a P/E ratio of 31.74. It also has a forward P/E of 20.88 and a beta of 1.735. The stock's 52-week range is between $51.69 and $163.13, with a 50-day moving average of $124.27 and a 200-day moving average of $102.82.
$NXT stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Nextpower Inc. reported revenue of $3.56 billion, though it experienced a revenue decline of 4.7%. The net margin stands at 16.46%, and the return on equity is a robust 29.57%. The company is set to announce its next earnings on May 12, 2026.
Insider Buying and Selling at Nextpower Inc.
Recently, CEO Daniel Shugar sold 21,402 shares at an average price of $144.73 on June 5, 2026, and also bought 21,402 shares at $21.00 on June 4, 2026. CFO Charles Boynton sold 4,500 shares at $151.79 on June 1, 2026, under a planned transaction.
Analysts Set New Price Targets
On June 8, 2026, Mizuho maintained its hold rating on Nextpower with a price target of $142. GLJ Research, on June 3, 2026, maintained a buy rating with a target of $149.44. Susquehanna also maintained a buy rating with a target of $180 on June 1, 2026. The consensus among 26 analysts is a buy recommendation, with a mean price target of $150.19.
About Nextpower Inc.
Nextpower Inc. provides solar and energy technology solutions, focusing on utility-scale power plants. Headquartered in Fremont, California, and led by CEO Daniel S. Shugar, the company offers products like solar tracking solutions and energy yield management systems. It caters to engineering, procurement, and construction firms, as well as solar project developers and owners. Founded in 2013, Nextpower has about 1,993 employees.
Bottom Line
Royal London Asset Management's new position in Nextpower Inc. is a notable addition to its portfolio, reflecting interest in the solar technology sector. Investors often track such moves through 13F filings to gauge institutional sentiment, though these filings are backward-looking and may not reflect current holdings.
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