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. According to the firm’s latest filing with the Securities and Exchange Commission, it now holds 36,053 shares of the utility provider, valued at approximately $2.5 million.
A number of institutional investors have also adjusted their positions in NextEra Energy. Notably, Vanguard Group Inc. increased its holdings by 1.0% in the first quarter, acquiring an additional 2,025,193 shares. This brings Vanguard’s total ownership to 207,322,418 shares, valued at around $14.7 billion.
Northern Trust Corp also boosted its stake by 1.1%, now holding 23,353,245 shares, worth approximately $1.66 billion. Similarly, Goldman Sachs Group Inc. expanded its ownership by 6.7%, acquiring an additional 1,336,259 shares to total 21,269,146 shares, valued at about $1.51 billion. GQG Partners LLC and Charles Schwab Investment Management Inc. also increased their stakes significantly during the same period.
78.72% of NextEra Energy’s stock is now held by institutional investors, reflecting a strong interest in the company from large financial entities.
Insider Transactions and Company Performance
In other news, NextEra Energy’s Executive Vice President, Robert Coffey, sold 7,500 shares on July 28, at an average price of $71.84, totaling $538,800. Post-transaction, Coffey holds 26,539 shares, valued at approximately $1.91 million. This sale represents a decrease of 22.03% in his holdings.
Treasurer James Michael May also sold 2,177 shares on July 22, at an average price of $77.50, resulting in a transaction value of $168,717.50. Following this sale, May owns 27,662 shares, valued at around $2.14 million, marking a 7.30% reduction in his ownership.
In total, corporate insiders have sold 32,705 shares worth $2.45 million over the last three months. Insiders currently hold 0.20% of the company’s stock.
Market Performance and Future Outlook
As of Friday, shares of NextEra Energy, listed on the NYSE under the ticker symbol NEE, opened at $84.48. The company has a debt-to-equity ratio of 1.36 and a market capitalization of approximately $173.97 billion. Over the past year, the stock has fluctuated, reaching a low of $61.72 and a high of $86.74.
NextEra Energy recently reported its quarterly earnings, revealing earnings per share of $1.05, surpassing analysts’ expectations of $1.01 by $0.04. The company generated revenues of $6.70 billion for the quarter, reflecting a 10.4% year-over-year increase, although it fell short of the anticipated $7.52 billion.
Looking ahead, analysts project that NextEra Energy will achieve earnings per share of $3.68 for the current year.
In addition to its financial performance, NextEra Energy announced a quarterly dividend of $0.5665 per share, which was paid on September 15, 2023. Shareholders of record as of August 28 received this dividend, translating to an annual yield of 2.7%.
NextEra Energy, through its subsidiaries, remains a key player in the generation, transmission, and sale of electric power across North America, focusing on clean energy solutions.
