Boston Partners Trims Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Boston Partners lessened its stake in Nextracker Inc. (NASDAQ:NXT - Free Report) by 74.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,214 shares of the company's stock after selling 29,931 shares during the quarter. Boston Partners' holdings in Nextracker were worth $373,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NXT. Allworth Financial LP grew its holdings in Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company's stock valued at $29,000 after buying an additional 276 shares in the last quarter. Quarry LP grew its stake in Nextracker by 61.5% during the third quarter. Quarry LP now owns 1,119 shares of the company's stock worth $42,000 after purchasing an additional 426 shares during the period. Principal Securities Inc. raised its stake in Nextracker by 41.8% during the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock worth $51,000 after buying an additional 410 shares during the period. Nisa Investment Advisors LLC increased its stake in Nextracker by 38.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company's stock valued at $68,000 after purchasing an additional 516 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Nextracker during the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 67.41% of the company's stock.

Nextracker Stock Down 2.1 %

NASDAQ:NXT traded down $0.92 during trading hours on Thursday, hitting $42.75. The company's stock had a trading volume of 1,028,633 shares, compared to its average volume of 3,023,458. The stock has a fifty day moving average of $45.16 and a 200-day moving average of $39.97. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $6.23 billion, a P/E ratio of 10.88 and a beta of 2.24. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31.

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Nextracker (NASDAQ:NXT - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. On average, equities analysts forecast that Nextracker Inc. will post 3.29 earnings per share for the current year.

Insider Transactions at Nextracker

In other Nextracker news, CAO David P. Bennett sold 9,801 shares of Nextracker stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total value of $489,069.90. Following the transaction, the chief accounting officer now owns 124,577 shares in the company, valued at $6,216,392.30. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bruce Ledesma sold 9,891 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $46.05, for a total transaction of $455,480.55. Following the completion of the transaction, the insider now owns 132,374 shares in the company, valued at $6,095,822.70. The trade was a 6.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,758 shares of company stock valued at $1,217,520 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on NXT. Barclays upgraded Nextracker from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $47.00 to $60.00 in a research note on Wednesday, January 29th. TD Cowen started coverage on shares of Nextracker in a research report on Thursday, December 19th. They issued a "hold" rating and a $41.00 price objective for the company. Susquehanna raised their price target on Nextracker from $50.00 to $54.00 and gave the company a "positive" rating in a report on Wednesday, January 29th. UBS Group increased their target price on Nextracker from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Finally, Citigroup lowered their price target on shares of Nextracker from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.43.

Nextracker Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.