Boston Partners Reduces Stock Position in Nextracker Inc. (NASDAQ:NXT)

Boston Partners lessened its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 74.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Allworth Financial LP boosted its stake in shares of Nextracker by 52.4% in the fourth quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after buying an additional 276 shares during the last quarter. Quarry LP boosted its position in Nextracker by 61.5% in the 3rd quarter. Quarry LP now owns 1,119 shares of the company's stock worth $42,000 after purchasing an additional 426 shares in the last quarter. Principal Securities Inc. grew its stake in shares of 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 purchasing an additional 410 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of 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 shares of Nextracker in the 3rd quarter valued at $74,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextracker Trading Up 0.6 %

NASDAQ NXT traded up $0.28 on Tuesday, reaching $45.48. The stock had a trading volume of 1,037,065 shares, compared to its average volume of 3,037,777. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $45.08 and a two-hundred day moving average price of $39.87. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 11.60 and a beta of 2.24.

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

Insider Transactions at Nextracker

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Northland Securities reaffirmed an "outperform" rating and issued a $55.00 price target (up previously from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Susquehanna upped their target price on Nextracker from $50.00 to $54.00 and gave the stock a "positive" rating in a research note on Wednesday, January 29th. BMO Capital Markets lifted their price target on shares of Nextracker from $48.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Nextracker from a "hold" rating to a "buy" rating and upped their price objective for the stock from $46.00 to $56.00 in a research report on Wednesday, January 29th. Finally, TD Cowen initiated coverage on shares of Nextracker in a research report on Thursday, December 19th. They issued a "hold" rating and a $41.00 target price on the stock. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $56.43.

About Nextracker

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.