MetLife Investment Management LLC Acquires 12,429 Shares of Nextracker Inc. (NASDAQ:NXT)

MetLife Investment Management LLC increased its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,112 shares of the company's stock after buying an additional 12,429 shares during the period. MetLife Investment Management LLC owned about 0.11% of Nextracker worth $6,068,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP raised its position in shares of Nextracker by 52.4% during the fourth quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after acquiring an additional 276 shares during the last quarter. Sterling Capital Management LLC raised its holdings in Nextracker by 448.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock worth $47,000 after purchasing an additional 1,055 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of Nextracker in the 4th quarter worth approximately $48,000. Principal Securities Inc. boosted its stake in shares of Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock valued at $51,000 after purchasing an additional 410 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Nextracker by 92.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock valued at $66,000 after purchasing an additional 873 shares during the last quarter. 67.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO David P. Bennett sold 9,801 shares of the business's stock in a transaction dated 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 directly owns 124,577 shares of the company's stock, valued at approximately $6,216,392.30. The trade was a 7.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruce Ledesma sold 9,891 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $46.05, for a total transaction of $455,480.55. Following the transaction, the insider now owns 132,374 shares of the company's stock, valued at approximately $6,095,822.70. The trade was a 6.95 % decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on NXT. BMO Capital Markets boosted their target price on shares of Nextracker from $48.00 to $50.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. Northland Securities reissued an "outperform" rating and issued a $55.00 price objective (up from $48.00) on shares of Nextracker in a research note on Wednesday, January 29th. UBS Group raised their target price on Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Wells Fargo & Company dropped their price target on Nextracker from $70.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Nextracker from $54.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Nextracker currently has an average rating of "Moderate Buy" and an average target price of $55.43.

Nextracker Stock Up 2.7 %

NXT stock opened at $40.36 on Wednesday. The firm has a market capitalization of $5.88 billion, a PE ratio of 10.27 and a beta of 2.02. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The stock's 50 day moving average is $42.99 and its 200-day moving average is $40.46.

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, topping analysts' consensus estimates of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. Sell-side analysts expect that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

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.

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