Charles Schwab Investment Management Inc. Grows Position in Nextracker Inc. (NASDAQ:NXT)

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.

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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.

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

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.