Charles Schwab Investment Management Inc. boosted its position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,331,078 shares of the company's stock after acquiring an additional 10,162 shares during the period. Charles Schwab Investment Management Inc. owned about 0.91% of Nextracker worth $48,624,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. State of New Jersey Common Pension Fund D raised its position in shares of Nextracker by 11.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 51,670 shares of the company's stock worth $1,937,000 after acquiring an additional 5,489 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Nextracker in the 3rd quarter valued at $247,000. KBC Group NV grew its position in shares of Nextracker by 7.9% in the 3rd quarter. KBC Group NV now owns 8,472 shares of the company's stock valued at $318,000 after buying an additional 620 shares during the last quarter. Royce & Associates LP acquired a new stake in Nextracker during the 3rd quarter worth $3,330,000. Finally, Mutual of America Capital Management LLC lifted its position in Nextracker by 10.2% in the third quarter. Mutual of America Capital Management LLC now owns 77,520 shares of the company's stock valued at $2,905,000 after acquiring an additional 7,163 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Nextracker
In other news, CAO David P. Bennett sold 9,801 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total value of $489,069.90. Following the sale, the chief accounting officer now directly owns 124,577 shares in the company, valued at $6,216,392.30. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of Nextracker 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 of the company's stock, valued at approximately $6,095,822.70. This represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,758 shares of company stock valued at $1,217,520 in the last 90 days. 0.27% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
NXT has been the topic of a number of research analyst reports. Piper Sandler lifted their target price on Nextracker from $47.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Nextracker from $70.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Truist Financial restated a "buy" rating and set a $56.00 target price (up from $54.00) on shares of Nextracker in a research report on Wednesday, January 29th. Citigroup decreased 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. Finally, Guggenheim lifted their price objective on shares of Nextracker from $50.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Nextracker has a consensus rating of "Moderate Buy" and an average price target of $56.50.
Get Our Latest Report on Nextracker
Nextracker Price Performance
NXT traded down $0.85 on Friday, hitting $44.31. 2,681,410 shares of the company were exchanged, compared to its average volume of 3,097,740. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. The firm has a market capitalization of $6.45 billion, a P/E ratio of 11.27 and a beta of 2.24. The business's fifty day moving average is $44.72 and its 200 day moving average is $39.62.
Nextracker (NASDAQ:NXT - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates 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 anticipate that Nextracker Inc. will post 3.29 EPS for the current year.
Nextracker Company Profile
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Free Report)
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.
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