Lbp Am Sa Acquires 19,059 Shares of Nextracker Inc. (NASDAQ:NXT)

LBP AM SA raised its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 57.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,359 shares of the company's stock after purchasing an additional 19,059 shares during the period. LBP AM SA's holdings in Nextracker were worth $1,913,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Nextracker by 15.8% in the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company's stock valued at $190,041,000 after acquiring an additional 690,343 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Nextracker by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company's stock valued at $134,724,000 after acquiring an additional 679,272 shares during the last quarter. Wellington Management Group LLP increased its stake in Nextracker by 25.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company's stock worth $127,169,000 after purchasing an additional 688,810 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Nextracker by 36.0% during the 4th quarter. Handelsbanken Fonder AB now owns 2,278,217 shares of the company's stock worth $83,223,000 after purchasing an additional 602,600 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Nextracker by 10.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,753,848 shares of the company's stock worth $64,068,000 after purchasing an additional 161,873 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

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Nextracker Stock Performance

Nextracker stock traded down $0.20 during mid-day trading on Thursday, hitting $44.97. 953,740 shares of the company's stock traded hands, compared to its average volume of 3,040,792. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 11.44 and a beta of 2.24. The firm has a 50 day simple moving average of $44.89 and a two-hundred day simple moving average of $39.71. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31.

Nextracker (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, topping 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%. On average, research analysts expect that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO David P. Bennett sold 9,801 shares of the firm'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 transaction, the chief accounting officer now owns 124,577 shares in the company, valued at approximately $6,216,392.30. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Howard Wenger sold 6,066 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the transaction, the president now owns 209,365 shares in the company, valued at $9,421,425. The trade was a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,758 shares of company stock worth $1,217,520 in the last 90 days. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on NXT shares. UBS Group increased 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. Jefferies Financial Group raised Nextracker from a "hold" rating to a "buy" rating and increased their target price for the stock from $46.00 to $56.00 in a research note on Wednesday, January 29th. The Goldman Sachs Group increased their target price on Nextracker from $54.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their price target on Nextracker from $70.00 to $69.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Finally, Guggenheim upped their price target on Nextracker from $50.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Nextracker presently has a consensus rating of "Moderate Buy" and a consensus 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.