International Assets Investment Management LLC has reduced its stake in NextEra Energy, Inc. by 19.5%, selling 8,707 shares during the second quarter of 2023. Following this sale, the firm now holds 36,053 shares, valued at approximately $2.5 million, according to its latest filing with the Securities and Exchange Commission.
This adjustment in holdings comes amid broader activity within the investment community concerning NextEra Energy. Several institutional investors have recently altered their positions in the company. Notably, Vanguard Group Inc. increased its stake by 1.0% during the first quarter, acquiring an additional 2,025,193 shares. As a result, Vanguard now owns a total of 207,322,418 shares, valued at around $14.7 billion.
Similarly, Northern Trust Corp raised its holdings by 1.1%, bringing its total to 23,353,245 shares worth approximately $1.7 billion. Goldman Sachs Group Inc. also increased its stake by 6.7%, now holding 21,269,146 shares valued at about $1.5 billion. GQG Partners LLC made a significant move, lifting its stake by 58.4%, resulting in ownership of 17,236,502 shares valued at approximately $1.2 billion. Charles Schwab Investment Management Inc. also increased its position by 20.7%, now owning 16,446,413 shares valued at around $1.2 billion. Overall, institutional investors own approximately 78.72% of NextEra Energy’s stock.
Insider Transactions and Recent Performance
In addition to institutional changes, insider activity at NextEra Energy has also been noteworthy. On July 28, 2023, Executive Vice President Robert Coffey sold 7,500 shares at an average price of $71.84, totaling $538,800. This transaction reduced his ownership to 26,539 shares, valued at around $1.9 million. This sale represented a decrease of 22.03% in his position.
Another insider, Treasurer James Michael May, sold 2,177 shares on July 22, 2023, at an average price of $77.50, for a total of $168,717.50. Following this transaction, he owns 27,662 shares, valued at approximately $2.1 million, reflecting a 7.30% reduction in his holdings. Over the last three months, insiders have sold a total of 32,705 shares worth around $2.4 million. Corporate insiders currently hold 0.20% of the company’s stock.
Market Overview and Financial Performance
Shares of NextEra Energy opened at $84.48 on Friday. The company maintains a debt-to-equity ratio of 1.36 and a current ratio of 0.54. The stock has performed within a range, recording a 52-week low of $61.72 and a high of $86.74. NextEra Energy’s market capitalization stands at approximately $174 billion, with a price-to-earnings ratio of 29.54.
In its most recent earnings report issued on July 23, 2023, NextEra Energy reported earnings per share of $1.05, surpassing analysts’ expectations of $1.01 by $0.04. The company achieved a return on equity of 12.31% and a net margin of 22.84%. Revenue for the quarter reached $6.7 billion, which, although below the consensus estimate of $7.52 billion, reflected a year-over-year growth of 10.4%.
Analysts project that NextEra Energy will post earnings per share of $3.68 for the current fiscal year.
Additionally, the company announced a quarterly dividend, which was paid on September 15, 2023. Shareholders of record on August 28, 2023, received a dividend of $0.5665 per share, translating to an annualized dividend yield of 2.7%. The company’s dividend payout ratio currently stands at 79.37%.
NextEra Energy, Inc. engages in the generation, transmission, and distribution of electric power across North America. The company is involved in renewable energy generation, including wind and solar, and offers various clean energy solutions to its customers.
